Recession-Proof Your Marketing Plan.

• Author: BERMAN, SHARON
• Position: Brief Article

In times of uncertainty or when facing a potential economic downturn, CPA firms comb their financials looking for areas to prune. Unfortunately, many CPAs believe that marketing is one of the first "discretionary" areas that can be cut without adverse consequences. But nothing could be further from the truth for CPAs and accounting firms that want to be successful.

CONTINUE TO IN VEST

In fact, it is these uncertain or slow times that offer the most potential for growth. Wise firms let others curtail their spending while they continue to invest in marketing. Why? Because in times like these, wise marketing investments will propel you further than in good times.

In a hot economy, when everyone is spending, it takes more money just to keep up, let alone make your message stand out from the clutter. When the economy cools, many firms drastically pull back on their marketing programs. That's when savvy firms continue to invest in marketing because they know they have an opportunity to be heard in the marketplace.

There are several key aspects to making this work for you. The first is building a marketing foundation during good times that will support you in a flat or down market.

NO TIME LIKE THE PRESENT

Of course, during hectic times you might think you're too busy to market. It's vital to overcome the idea that you only can focus on marketing when you have large blocks of time available because you never will. No matter how busy you are, do what you can. It only takes 15 minutes a day to make several phone calls that can keep your marketing momentum going. The last thing you want to do is put off marketing until business has slowed because then you'll panic. Panic repels prospective clients who are looking for someone in whom to place their confidence.

Regardless of the state of the economy, it's critical to view marketing as an investment, not an expense. You are spending money and time with the goal of getting a worthwhile return on investment. Sometimes, the return is harder to measure than at other times, and some time frames are longer than others, but there will always be a return. It's much easier to make the initial investment when times are good. Then, when things cool off, it's critical to keep investing, knowing it will pay off in the future.

Busy times are also the best time to examine the efficiency of your investment. We tend to trim the fat when things cool down, but it makes more sense to examine efficiencies while business is...