What many experts have known for months, if not last year, is that our country is officially in recession. In fact, the National Bureau of Economic Research announced in December that we have actually been in a recession since December 2007. Many business owners probably knew this long before the Bureau’s announcement, feeling the pinch of customer budget cuts. , a heightened level of anxiety within the industry, and just a general state of doom and gloom, no thanks to the media’s contribution as well. But what exactly is a recession, and how will it affect your overall business strategy and, more specifically, your marketing plans for the next six to 12 months?

The Bureau defines an economic recession as “a significant decline in economic activity distributed throughout the economy, lasting for more than a few months, usually visible in real GDP.” [gross domestic product] growth, real personal income, employment (nonfarm payrolls), industrial production, and wholesale retail sales.” With the Big Three automakers seeking government intervention and Wall Street getting its own government bailout, most of us don’t we need a definition textbook.

When Wall Street began to spin out of control in the summer of 2008, the natural instinct of most people was to pull out of their investments, simply out of sheer panic or fear of the unknown. It’s a knee-jerk reaction, yet the response simply compounds the problem, which is exactly what it will do to your own business if you panic and backtrack on your marketing efforts during these tough economic times. Let’s look at some things to keep in mind when realigning your marketing plans in the short term.

1. Avoid being reactive, which will cost you money. It’s a natural response to want to retire anything and everything you don’t consider a necessity during a recession, but doing so will literally blow you and your business off the map, and possibly close to extinction. It is essential that you convey an image to your clients that you remain calm and clear-headed during these times. Remember, your customers will look to you for support and advice to keep their business afloat. You want to be a resource to them, as you always have been, not someone who jumps ship and cuts back on all your marketing and promotion to save a few bucks. Narrowing down and reacting to every piece of news that comes your way regarding the recession will only reinforce any panic that may exist among your customers. Stay the course and think before making any decision.

2. Communicate with your clients to let them know that you are a stable VAR that will survive the crisis. This tactic is really a number one follow up. Through consistent and clear communication, you need to show and tell your customers what you’re doing to avoid guesswork about your stability. Show why you are the VAR that will outlast the competition. What makes it unique? If you start cutting back on your marketing budget, you won’t have a point of difference to share with your customers about why you do things differently and why they should trust you during these uncertain times. Creative communication can also position you as a resourceful VAR. For example, one of the most cut areas during tough financial times is the travel budget. Let your customers know that you have solutions that will offset their need to travel less. Create webinars and teleclasses that allow you to communicate valuable information to your clients, positioning yourself as a leader in the industry. This small marketing expense for you will earn you praise with your customers. It’s easy to do and gives you an outlet to keep the lines of communication open.

3. Whatever you do, don’t cut prices! Again, this is one of those knee-jerk reactions that becomes an epidemic and a very bad cycle to get into. It’s natural to want to lower your prices to encourage your customers to buy from you and not your lower-priced competitors, but doing so simply exposes your desperation and also permanently lowers your retail prices, ultimately devaluing your brand. . Instead, look for value-added extras, so you don’t have to cut your prices but your customers think they’re getting more for the price. Take advantage of your affiliates and partners. See how you can work together to create promotions and offers that show your customers that they’re getting more for the same price they’ve always paid.

Marketing during a recession actually requires you to dig deep into your business and commit to the fact that you’re not going to cut back on programs and promotions, and you’re not going to cut prices. Now is the time to focus on your brand and what that brand tells your customers. What are your core products and the points of difference that make them shine? Communicate these aspects to your customers and let them know that even during a time of constant change, you are stable with your products and ideas. Stay away from price cuts and don’t cut quality just to save a few bucks. If your reputation was built on good, quality products and services, compromising it will only devalue your brand, creating an expensive rebuilding effort down the line. There is an end to this recession and you want to shine on the other side.