News & Events

Marketers 'should use downturn to their advantage'

Date posted:

16th July 2008

Marketers should not use the current economic conditions as an excuse for business failure, it has been claimed.

People in the marketing industry should not talk themselves into the recession, since there is still plenty of business to be had.

This is according to Doug Wilder, president and business coach at Wilder Business Success in the US, who told the Jacksonville Business Journal that marketers need to ensure they create a business plan.

"Refuse to participate in a bad economy. If sales people keep hearing from prospects, 'I don't have enough money,' that's fine. Go find clients or prospects who do. Find the right target market," he urged.

He added that it is important to make a formal business plan that all staff understand and adhere to, as well as to maintain a positive attitude.

Earlier this month, the Bellwether Report found that marketing budgets have been revised down for the third consecutive quarter and to the greatest extent since the September 11th terrorist attacks in 2001, as the doom and gloom pervading the industry builds momentum.

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