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When You Face A Problem, It’s An Opportunity In Disguise

The Silver Lining In An Economic Downturn

As we enter uncharted territory over the coming weeks and possibly months, we wanted to update you on how we at Alecan are responding to COVID-19.

Our utmost concern is the health and safety of everyone we become in contact with. For that reason, we have taken proper steps at our offices to ensure the safety of our customers and staff.

We urge everyone to follow all guidelines established by both federal and local authorities. If everyone does their part to help mitigate the crisis it will enable all of us to come out the other side of this much sooner.

We are operating as normal and if you need us for anything we are here and available.

There is no doubt we are entering a period of uncertainty when it comes to the economy. But as with any downturn, opportunity often presents itself. This has been proven time and time again throughout economic history.

How Is This An Opportunity?

During difficult times there are many businesses that choose to cut back on advertising and marketing, and while this is understandable, there are also an equal number of businesses who see an opportunity to better position themselves for the rebound that will be certain to come.

Each business has to make decisions based on their own situation, but those who stay the course, or are able to be more aggressive, with their marketing and advertising when others back off, tend to reap much larger rewards. Cutting back means losing much or most of the momentum that has been built up over time and trying to gain that back after a potentially lengthy delay can be very difficult.

  • Don’t focus only on the present moment
    Understandably emotions are high, but decisions are best made using logical thinking. Investments in your business are always about positioning yourself for the future rather than short-term gains and success.
  • Pickup market-share
    This is a time that can allow your business to take a bigger piece of the pie in your market. We use the word “take” specifically because this is something you must ACTIVELY do by continuing to push your brand.
  • Position yourself while your competition went to sleep or throws in the towel
    Over the next few weeks and months, your competition may begin to completely stop promoting themselves and believe that when our country bounces back that they can simply flip a switch and start right where they left off.

    This is where you take this opportunity in front of you and continue your marketing push by creating good content, sending out emails, and reaching out to potential clients. You will maintain a strong position when the economy inevitably picks back up.
  • Tap into low-hanging opportunities that were hard to reach before
    With your competition beginning to pull back, paid advertising will cost less and your budget stretches further. That means your paid marketing ads are being seen by more potential clients. By simply continuing your media buying ads, you’re able to continue to get your business in front of more future clients. 

    As we said earlier, it’s important to continue to position yourself for the future. One great way to do this is to create a special offer that potential clients will have a hard time passing up. This is where you are truly seizing this opportunity and grabbing it by the horns while competition is throwing in the towel.      
  • Pick up leftover opportunities
    While your competition may begin to cancel clients or let go of talented staff members, this is a time where you have the opportunity to take advantage of this. You can take other clients or staff members that may have taken you months or years to properly train.

The leadership at Alecan has dealt with a similar economic situation before. During the 2008 recession there were a number of clients that trusted us to stay the course and they came out ahead of their competition.

Understand that economic contractions don’t last forever and you can succeed regardless of the state of the economy. Those who don’t quit, but instead dig in, think logically and creatively, come out the other side with a bigger piece of the market.

There is a reason why the wealthy typically find success in times like this. They think logically through the situation and grasp the opportunity that is in front of them.

We hope we’re able to shed some light on a difficult situation for all of us. If anyone needs some guidance, our team at Alecan is here to help.