The outlook for the Australian economy in 2013 is overwhelmingly positive. However, regardless of the overall economic trends of the year, marketing your business is key.
Though it is still at the beginning of the year, the outlook for Australiaâ€™s economy in 2013 is overwhelmingly positive. There were some feelings of obvious surprise given global economic trends over the past few years. However, a recent Westpac-Melbourne Institute Leading Index survey, which measures economic growth from 3-6 months in the future, predicted rising growth at the close of 2012, a trend which they expect to continue. However, it is important to remember that in all economies marketing your businessÂ is the only real way to stay afloat.
Advertising in Good Times and in Bad
Over the last decade, we have certainly seen the â€œbest of timesâ€ and the â€œworst of timesâ€. So it is of no surprise that a number of businesses are at a loss for how to operate in a constantly-changing economy. The news of an expected 3.9 per cent growth trend this year is far above trend, but it shouldnâ€™t change a companyâ€™s overall strategy or message.
Indeed, the only way to guarantee that oneâ€™s point is received is to constantly focus on marketing efforts, and even more so in a rising economy. This means signage, advertising, and email marketing. In good times, people need a place to spend their money. In bad times, they need familiar faces they can trust.
Planning for 2013 and Beyond
As companies finalise their advertising strategies for the beginning of 2013 and beyond keeping growth in mind is important. However, regardless of the direction the Australian economy takes, keeping marketing in an important place in your budget is the only way to stay alive.Â