by Paige Garrett
Recessions (or even the threat of one) can leave executives and business owners shaking in their boots. In order to set themselves and their business up for success and ensure they do all they can to make it through, they’ll likely begin by taking a hard look at the books. Cutting costs to make the business as lean as possible before facing a difficult financial atmosphere is a common tactic. Often, PR and marketing can be some of the first things to go.
While most publicists and marketers will advise you against cutting their costs in a recession, we can still help you save money! Below, we’ll dive into a few ways to help you weather a recession, while still gaining brand traction and raising awareness. It doesn’t have to be one or the other.
Use social media to engage with customers
Even without sponsored or promoted ads, brands can still use social media platforms to engage with customers and like-minded brands to grow their audience and increase overall consumer awareness. Creating social media accounts is totally free, and spending a few minutes each day engaging with your audience could go further than money spent on targeted ads.
If it’s not feasible to hire a full time employee for a role, look into using a freelancer who specializes in what you need. You’re more likely to broker a good deal by paying hourly or getting a smaller monthly retainer, depending on the project, than hiring another full-time associate.
Overhaul your supply chain management
Using a supply chain consultant to help reroute your shipping, packing, and other SCM costs is a great way to save money while still keeping shipments flowing (and ensuring customers continue receiving products in a timely manner!).
Evaluate your accounts
Finally, look at your income, spending, and balance sheets on a regular basis. Continuously monitor what’s working and what isn’t, and use that data to reallocate costs and resources appropriately.
Utilize Press Hook’s plethora of services at a lower cost than the traditional agency model
From brand listings and sample requests, to media pitching and press release writing, Press Hook is a one-stop shop for companies looking to get good PR without the large PR budget. Spend smarter, not harder.
Interested in learning more about how Press Hook can help you affordably master your media relations? Schedule a demo to find out.