Protecting your business to ensure prosperity
Recession is coming.
At this point, it is a matter of when, not if. The Fed is tightening. Since World War II, the Fed’s tightening cycles have signaled coming recession in 10 of 18 instances. In addition, the Fed targets inflation in its decision-making process. The inflation timing model from Ned Davis Research suggests we may well be looking at rate change this December.
Leading economists, market commentators, and other respected financial prognosticators are all singing the same somber tune. They are convinced that recession is coming at some point prior to the end of next year. When those in the know converge in that way, it is vital for those of us in the business community to listen, to plan, and to take appropriate, preemptive action.
Companies that intelligently and effectively strategize for the coming recession will survive. Those that fail to make the necessary adjustments will flounder or, worse, perish. On which side of the fence will your business fall?
Positioning for a gig economy
Agility is the key to surviving (and even thriving) in a recession. Saddling your organization with employees prior to its onset represents an unforced error. And one that is often easily avoidable.
In addition to the hazards associated with expanding your workforce at the dawn of a recession, broader factors suggest that traditional forms of employment are falling generally into disfavor. This is particular true of “creatives,” such as writers, designers, artists, and even coders.
The trend, which shows every sign of expanding, is for a workforce seeking “gigs” rather than jobs, particularly among younger workers (e.g., millennials). Traditional employment is seen as unnecessarily restrictive. In some sectors, it is also considerably less lucrative than going on your own. Freelancing is becoming the norm rather than the exception.
Businesses who understand and capitalize on this can position themselves for the myriad of financial benefits heralded by such a shift. When you free your business from the expensive confines of a traditional hiring model (e.g., recruiting costs, onboarding expenses, health insurance premiums, escalating prices for benefits packages, skyrocketing employment taxes), you free the capitol your business may need when the recession hits.
Pursuing the benefits of inbound
Fortunately, weathering the coming recession, in part, by keeping employment costs to a minimum does not mean your marketing efforts need to suffer. Quite the opposite is true, actually, but only if you do it properly.
By now, it is no secret that inbound marketing is king. Gone are the days of pricey, in-your-face marketing such as television commercials or radio spots. The smart money is on inbound marketing, where your customers come to you. And the kicker is that they do so voluntarily.
They come to your website or mobile app because you offer high quality content there, and you do it consistently. You do it so consistently, in fact, that when the time comes for them to make a buying decision, you have already positioned yourself in your potential customers’ minds as a trusted thought leader-one from whom they are highly likely to make a purchase.
Those juicy, lucrative leads will only come to your website and enter your sales funnel if you offer them the proper incentives. In the past, that meant hiring a writer in-house to create those materials on your behalf. It was expensive and time-consuming, but it worked.
Today, “expensive and time-consuming” no longer apply when it comes to securing great content. Creating thoughtful, authoritative, customized content for your business no longer requires in-house talent at all. That is where outsourced content marketing solutions come into play, and they do so beautifully. With Tempesta Media, not only will you receive top-notch content to drive customers to your doorstep, but you’ll also pay up to 80% less for it.
As recession looms, your business can thrive. Outsourcing content production and marketing is the winning scenario that can give your business a distinct, competitive edge.