3 Steps to Gain Market Share & Grow During a Recession

Опубликовано: 14 Декабрь 2022
на канале: IgniteVisibility

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We have compiled the framework that companies use in order to grow during a recession and take dominant positions within the marketplace.

3 Steps to Gain Market Share:

Step 1: Update your offers: Talk to your customers to understand how their mindset has changed. Are they interested in a cheaper option? How have their needs changed?
a. Review your bottom-line pricing
b. Create a customized higher-end offer that specifically targets your best customers
c. Develop three new add-ons on top of your existing product line

Step 2: Ramp Up Your Marketing: Studies have shown that companies who invest more in marketing during a recession tend to grow for years after the recession. Think about the following:
a. Email Marketing
b. Social Media
c. SEO
d. Paid Media
e. Review Sites
f. Automations
g. Video

Step 3: Gain Market Share: go big with your market spend to show your potential customers that you are the main choice.

Are you worried about your business as we head into a recession? Leave a comment below if you have questions.

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