1.   Do not stop marketing: Economic downturns are the best time to stand out more while spending less.
Staying active in marketing while others pull back will help you gain market-share even though it may not increase profits in the short run due to reduced spend, it is sure to boost your business faster once things start recovering. It’s an opportunity to stand out. So make best use of it. Experienced business owners know to stay present in the media during hard times.

2.  Avoid over-spending: Of course avoid this always! However an economic crisis usually calls for businesses to channel their marketing into more cost-effective strategies. This may mean outsourcing a service previously done in-house or looking for alternative more cost-effective suppliers. Shifting your focus on cheaper marketing alternatives like Social Media marketing also helps.

3. Do not invest in advertising strategies if you cannot Measure your ROI (Return on Investment) from it.
Do not invest in marketing strategies that do not allow you to measure ROI or are untrackable. Make sure that your marketing plan includes measurement strategies for every campaign. This means you will be less likely to make mistakes and waste precious marketing money when it is thin on the ground.