Economic Recovery: Optimism Foundational-Realism Not Optional

Some say the recession is over and some say it’s not.  It all hinges on how you define the terms.

Let’s look at two frequently used words: recession and recovery.  Recession, by the traditional definition, means that GDP declines for at least two quarters or roughly six months.  Overall economic numbers and activity are trending downwards.  The current recession includes: reduced earnings; lower home values; less consumer spending; tighter credit, increased job losses, and domestic and international debt problems stemming from the U.S. and reaching to Greece, Spain, Portugal, Ireland, the U.K., and other countries.

Once a recession turns from “Negative Street” to “Positive Boulevard,” the trends may be shifting but it takes time for traffic to flow again before a recovery begins.  In short, the end of a recession does not mean the start of a recovery.

Recovery means positive job growth.  Recovery also includes a long-term, increasing, free flow of the exchange of goods and services.  Government stimulus is only a short-term “fix.”  Moving from recession to a sustainable recovery takes two vital ingredients: patience and jobs.

No job growth.  No recovery.  No way.

Be patient–exceptionally patient.

Be optimistic yet realistic.  There are many ways marketing can help your business during this recession.  Below are a few tips to ponder and apply:

• Shift your marketing budget from old-school mediums such as newspapers and magazines to digital, no cost or low cost advertising, branding and web based networking such as e-mail marketing.   Make sure to include social media tools like Twitter and Facebook in your mix.  Tweak rather than slash your marketing budget.

• Update your web site content, keywords, phrases and HTML page titles. It’s simple SEO.  Both Google and your customers will find you faster.

• Use time more efficiently.  The wise use of time is one of the most effective yet neglected product and service differentiators.  Your company has 24 hours per day and so does your competition.  Time is money so let it work for you.

• Be more patient…

• Keep laughing!

• Hug your family!

• Read my new book, Small Business Marketing – A Guide for Survival, Growth and Success.

What do you think?