Recession Proofing Your Agency and What a Recession Means for You

A recession is the hot topic today as we head into the end of Q3 looking at two consecutively "down" quarters. When recessions hit, people and businesses get tighter with their money and non-essential services are cut. As a marketing agency, we're often seen as a "non-essential" service (which is odd to us), but as much as we don't want it to be, it's the truth.

However, not all businesses and industries are affected by recessions -- some even boom. Both the industry we market for and our business saw huge growth spurts during COVID. Although not a recession, we still saw the same money tightening and job displacement you typically see in one.

Having said that, we felt like this was an important topic to cover for new and experienced agency owners who are wondering what a recession is going to mean for their business.

In this episode, we dive into:

• The pros and cons of a recession (yes, there are pros for some people and businesses)

• What industries are and aren't affected

• How you can recession-proof your agency such as:

1. Creating low-cost services to draw-in revenue from scrappier clients

2. Creating and defining services that are needed (administrative) rather than sought after (ROI-focused)

3. Picking a recession-proof agency

4. Segmenting & protecting your money

5. Continuing to stay lean, not because you're in a recession, but because it's just smart in general

 

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Our recommended agency tools:

everbrospodcast.com/recommended-tools/

 

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