In this episode, we discuss the final segment about how to win in a recession. Leveraging your cash position in relation to competitors is very important to ensure you come out on top after a recessionary period.
We discuss these key takeaways:
- When is the right time to scale - it depends on what your goals are. Depending on where you are in your cash position, there may be additional options available as you look to scale your business.
- If you’re coming into a market with a strong ROAS, you want to be able to push your advantage to take market share from your competitors who may be scaling down to save during a recession.
- Deploying a niche strategy to underserved markets at the same time to increase market share in other areas.
- This highlights the importance of measuring metrics - money-related numbers - that can really help you achieve these things.
- Lifetime values can shift in a recession and it may seem like you need to retract your spending but when you look at lifetime value, it stays the same, it’s just lower on a per-year basis.
- Be very strategic when you make budget cuts so you aren’t cutting from your high LTV customers.
- Using segmentation can help identify the audiences that are your top buyers.
Have you listened to the other sections of the How to Win in a Recession series? If not, check them out here!
You can also find the downloadable whitepaper about this discussion here.
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