How To Protect Your Business From De-growth?

By Author: TDF
Total Articles: 52
Comment this article

The corporate fraternity in India is talking about business degrowth and slowdown. The recent layoffs have started conversations about what measures to take in the face of the problem of loss of revenue.
How have you been experiencing this phase? Most people think they should maximize their marketing activity in order to sell more and get more revenue.

We think that pumping a lot of money into advertising/marketing is missing the point. Read on to find out how it’s not just ad agencies that can help you take care of your business.

If the root of your problem is not bad advertising or marketing, why will you hire an ad agency? We propose you give a thought to working with consultants.

Let’s see why.

The Problem
These are desperate times. While The Guardian warns about the recession in 2020, Forbes lists countries that are likely to be seriously affected.

Banks alone are set to lay off over 50,000 employees. If you add sectors like the auto industry, the numbers keep going up.

If such a tough time is going to hit you, assuming it’s not already done that, how have you ...
... planned to manage the situation?

The core challenges that businesses face at all times revolve around reducing losses and maximizing profits. At a time of degrowth, these challenges are going to get worse.

“Why?” you may ask.

Businesses tend to turn to the option of reducing costs but maximizing marketing activity by:
a. Hiring advertising agencies, or

b. Hiring digital marketing agencies

And, they don’t feel any better after hiring these either.

Well, data about client-agency relationships are hard to find but as this last report we could find shows, brands are not happy with their ad agencies.

But how is that related to the degrowth in your specific business? — you may wonder.

Brands have conventionally thought of pumping more money into advertising for creating more awareness, or announcing offers and discounts, whenever it’s got tougher to survive.

To know more: https://thedigitalfellow.com/how-to-protect-your-business-from-de-growth/