The current economic climate has raised concerns about a potential recession, leading businesses to face numerous challenges. To survive and thrive during an economic downturn, businesses need to adapt their marketing strategies. Understanding the impact of a recession is crucial for making proactive adjustments that can help businesses successfully navigate through challenging times.
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If you are a new business owner looking to get your company off the ground, or to the next level, then marketing is on your mind. In this area, it might seem like the difference between 0 to 1 is huge. And while that's often the case, when it comes to marketing, you can spin your wheels for a good while and go nowhere if you aren't executing properly. Effort gone to waste at the beginning of your journey as a new business owner is demoralizing, and we don't want that for you. So here is a quick breakdown of marketing for new business owners, and where to focus your energy at the beginning of your journey.
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Back in 2017, influencer marketing really picked up. Well, it's now an $8 Billion industry. And it’s not slowing down. At first, like many new things, people thought it was a fad. It has since been following the 'adopter curve', meaning that there are a few categories of adopters: innovators, early adopters, early majority, late majority, and laggards. The general consensus is that we are still in the early majority category. Many companies, especially brands, have gone past realizing the potential of influencers to the point of utilizing them and spending serious marketing dollars on them. But many other brands still haven't committed any portion of their marketing budgets to influencers.
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