Expert Tips for Weathering Recessions

Links from all over the web

We've put together this Recession Kit as a help to aid in your scenario planning during this economic downturn. On behalf of the M3 Planning staff, we hope the compilation of articles, how-tos, tools and advice will help you come out ahead of these turbulent times.

Dan Schawbel: Personal Branding Expert

"The key to success in the recession is to protect yourself by focusing more on networking outside of your organization than within. By establishing a personal brand online, you are securing your future, despite any recession that may occur."

Read more about what Dan has to say about branding in the recession at his website, Personal Branding Blog.

Prof. Ed Lawler of the Marshal School of Business at USC

In the midst of this worrisome economy, you’ll need some assurance that when you do finally land that coveted job, your new employer will remain competitive – and optimistic. Companies remaining afloat during the next economic downturn will be those that have the right processes in place to manage its “talent,” as well as costs, revenues and other key indicators.

But that doesn’t mean you don’t have to do your homework.

Job seekers should first evaluate a company’s structure to get an idea how it will perform during a recession, according to Prof. Ed Lawler of the Marshall School of Business at USC and author of the upcoming book, "Talent: Making People Your Competitive Advantage."

John Quelch of Harvard Business

This is not the time to cut advertising. It is well documented that brands that increase advertising during a recession, when competitors are cutting back, can improve market share and return on investment at lower cost than during good economic times. Uncertain consumers need the reassurance of known brands--and more consumers at home watching television can deliver higher than expected audiences at lower cost-per-thousand impressions... read more

Jared Bernstein Of Talking Points Memo

The typical family’s income falls in recession, and, what with jobless recoveries, it kept falling for the first three years of the last two recoveries, by an average of -4%. If that happens this time, we’ll be talking about losses in the $2,500 range for middle income families... read more

Jared Bernstein is a senior economist at Economic Policy Institute. He is the author of the new book, "Crunch: Why Do I Feel So Squeezed? (And Other Unsolved Economic Mysteries)."

Amit Argarwal of Marketing Crossing

While looking to build new partnerships during a recession is no sin, loyal customers are the assets you need to take care of the most. Recession is a time when you should look to satisfying the needs of your old customers. Much to your advantage, during a recession, customers are more likely to go to their old trusted vendors. Though making new customers in such times is a difficult job, sticking to loyal customers is much easier... read more

Scott Clark of Site Creations

Social marketing, with authentic messages, is the most important recession-time marketing tool any company can have. But waiting until a real recession to try it is a huge mistake. Now’s the time to get involved. But involved in the right way... read more