Marketing in uncertain times

The cost of living rising is at pace and running a business is nerve-wracking.  People are tightening their belts with reduced disposable income.  However, there is an opportunity to become stronger and defy the market.  Here are a few ideas to get you thinking.

• Re-evaluate customer segmentations - Rising costs and economic pressures may have shifted their priorities, spending habits, and financial comfort zones. Understanding these changes will help you tailor your products, pricing, and messaging to match their current needs.

  
  

• Plan for what’s realistic - In challenging times, ambitious growth targets may not be achievable, but maintaining stability and brand presence can be. Focus on achievable objectives, allocate resources wisely, and set short-term goals that can adapt as the market evolves.

  
  

• Keep communicating - In uncertain times, silence can create doubt. Maintain regular contact with your audience through email, social media, and in-person conversations. Even if you don’t have big announcements, share updates, insights, and useful content to stay visible and build trust.

  
  

• Customers don’t like price rises - Bundle complementary products, create limited-time offers, or add small extras that enhance the purchase experience. This can help you recover rising costs while keeping customers satisfied.

  
  

• Monitor the market - Keep a close eye on competitor pricing and wider market trends. Customers can easily compare prices online, and being significantly out of step - either too high or too low - can affect both sales and brand perception.

  
  

• Factor in shipping costs - If you sell online, be mindful that delivery fees can be a dealbreaker. Review your shipping strategy to stay competitive and attractive to buyers.

  
  

• If selling b2b, consider consignment stocks.  Maintaining brand presence when retailers may be looking to reduce stocks, will give you greater exposure on the shelves and lead to higher purchases. 

  
  

• Rather than reducing your marketing activity such as by cutting print advertising, look to reduce wastage and become more efficient – you still need to think about the future of the brand. Cutting spend now is likely to reduce brand strength in the future.  In fact, now is the time to stand out from the crowd.  

  
  
  
  

Challenging economic times can test even the most resilient businesses, but they also present an opportunity to adapt, refine, and strengthen. By staying connected with your customers, delivering real value, and making strategic choices that keep your brand visible, you can position yourself not just to survive, but to emerge stronger. The businesses that innovate now, communicate with clarity, and act with empathy will be the ones customers remember, and return to long after the market recovers.