We’ve noticed a strange trend in our circulation data these past six months.
Subscription numbers have dipped while retail sales have increased.
It’s all ‘swings and round-a-bouts’ to us but it still begs the question: At a time when many business owners are battening down the hatches and pulling their purse strings tight, why are our readers opting for the more expensive option?
It’s been observed that funny things happen to our collective psyche when the economists start talking doom and gloom.
For example, it’s been noted in the past that movie ticket sales increase in times of hardship (When we naturally seek escapism), as do flower sales. (Yup, the type you might buy to perk up the home when feeling blue.)
We often sacrifice the things we need, in place of the small things we want.
There’s another thing worth remembering about recessions.
They’re a great time for investing in yourself, your business and fortifying your place in the market.
Observation #1… Everything is cheap. Great bargains can be found. (In fact, if you want an Anthill subscription for only $29.95 – 40% less than retail – click here and insert the promo code SCREWTHERECESSION. Believe me, just typing those three words feels both defiant and cathartic.) 😉
Observation #2… With all your competitors holding back on their usual marketing activities, now is the time for you to shine. Focus on selling additional value. Use a quiet marketing landscape to widen your funnel. Focus on strengthening existing relationships. Be like Kelloggs! (below).
Observation #3… Finally, tough times are the universe’s way of making you stronger. Invest in yourself. Find optimistic mentors. Get out and about. Talk to people. Talk to yourself. And find new ways of solving problems. If the solutions work for you, there could be a business in it.
If the doomsayers have already got you in a funk and if my three points are sounding like horse-manure, here’s a quaint and true story to consider.
In 1929, Kellogg’s and the leading cereal maker of the time, Post, were in a close race to win the breakfast cereal market. When the Great Depression started, Kellogg’s maintained their advertising spending while rival Post cut back.
Now ask yourself, ‘How many more boxes of Kellogg’s product have been sold long after The Depression ended because someone had the vision to see a time of economic slowdown as the time to pull ahead of competition?’ And what happened to Post!
Thems my two cents. Now reader, it’s your turn.
Any helpful tips, ideas, suggestions, observations on how to profit from a recession?
