03/03/2023
While the world is arguing whether the USA is in a recession or not, we asked AI how small businesses can survive because it's better to be safe than sorry, right?
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And here is what AI told us:
4️⃣ Diversify revenue stream - small businesses can mitigate the impact of a recession by diversifying their revenue streams by expanding into new markets or offering new products or services
*** our creative team of brand strategists can easily help you with that! We are known for generating not obvious ideas for income sources and building a strong product/service line that boosts your customers' LTV like crazy, even during hard times
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3️⃣ Focus on cash flow - it is important for small businesses to focus on managing their cash flow. This may involve reducing expenses, negotiating payment terms with suppliers, and following up on unpaid invoices
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2️⃣ Build strong customer relationships - offer special promotions, provide exceptional customer service, and regularly communicate with customers to keep them informed and engaged
*** how? - marketing!
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1️⃣ Embrace digital marketing - during a recession, consumers may be more inclined to shop online, making it more important than ever for small businesses to have a strong online presence. Invest in social media, email marketing, content production, SEO, etc. Small business owners should carefully evaluate their marketing strategy and consider the potential consequences of cutting their marketing budget before making any decisions.
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We know it's tough right now, but 🚫 saving on marketing is one of the worse mistakes a business owner might make during a recession or not
We also understand that budgets are tight
That's why we now offer NEW CONSULTING SERVICES for businesses that:
✔️ want us to build an effective marketing plan for the budget they have
✔️ optimize or power up your current marketing efforts
✔️ organize an effective "in-house" marketing system or even build a department
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DM us the code word "NCS" ➡️ .production.group to find out more about this service
