Marketing at Low Tide: How to Recession-Proof Your Marketing Department
Marketing at Low Tide: How to Recession-Proof Your Marketing Department
Marketing matters just as much, if not more, during economic recessions
In 2020, the longest period of economic expansion in U.S. history came to a grinding halt. Caught off guard by years of growth and record-breaking profits, architecture, engineering, and construction firms (known collectively as the A/E/C Industry) are now reeling and wondering how long the recession will last and how severe the financial impacts will be.
During the Great Recession of 2008-2010, many A/E/C firms made deep, devastating cuts into their Marketing departments. These 'cost-saving' measures caused waves of layoffs of marketing professionals across all job categories and levels of seniority. This type of extreme 'disinvestment' in marketing resources hinders a firm's ability to position its brand in the hyper-competitive landscape of a recession. To prevent this from happening again, we must understand the motivations and perceptions that drive firm financial decisions, and review some of the miss-steps marketing departments make when the tide goes out.
To do this, we explore:
How recession impacts the A/E/C Industry
'Firm psychology' and how it impacts Marketing departments
4 recession action steps to take immediately
10 Activities Marketing Departments Should Do Every Year to improve agility and strengthen team commitment and morale
Descrierea produsului
Marketing matters just as much, if not more, during economic recessions
In 2020, the longest period of economic expansion in U.S. history came to a grinding halt. Caught off guard by years of growth and record-breaking profits, architecture, engineering, and construction firms (known collectively as the A/E/C Industry) are now reeling and wondering how long the recession will last and how severe the financial impacts will be.
During the Great Recession of 2008-2010, many A/E/C firms made deep, devastating cuts into their Marketing departments. These 'cost-saving' measures caused waves of layoffs of marketing professionals across all job categories and levels of seniority. This type of extreme 'disinvestment' in marketing resources hinders a firm's ability to position its brand in the hyper-competitive landscape of a recession. To prevent this from happening again, we must understand the motivations and perceptions that drive firm financial decisions, and review some of the miss-steps marketing departments make when the tide goes out.
To do this, we explore:
How recession impacts the A/E/C Industry
'Firm psychology' and how it impacts Marketing departments
4 recession action steps to take immediately
10 Activities Marketing Departments Should Do Every Year to improve agility and strengthen team commitment and morale
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