Recession Prep 101

As inflation hits record highs, the stock market sinks, interest rates soar, crypto crashes, and new project inquiries become increasingly less frequent, you might be experiencing some uneasiness. We’re all wondering: "How will this impact our businesses?

The best thing you can do for your interior design studio during a time of deep uncertainty is to take preparatory action – that means making a plan and refining your processes before the industry potentially feels any negative effects.

That's why we’re walking you through actionable steps to safeguard your business from a recession. We might not be able to predict the future economy but we can predict this: If you follow this five day plan, no matter what happens, you can move forward feeling calm, cool, and collected.

Sounds good, right? Let's get to work.

Day One

Think Before You Speak...Or Spend

It’s simple: We need to get strategic about how we’re using our marketing resources. Before you spend another minute or dollar on creating social media content, sending email newsletters, running an ad, or drafting a blog post, you need to identify who you’re trying to reach and what you’re going to say to them.

Our number one tip is to niche down, cultivating a specialty that helps you stand out from competitors and allows you to identify a specific target audience. If the number of people looking for interior design temporarily decreases, it’ll be more important than ever to be attracting the right people.

Today's To Dos

1. Refresh your website.

As soon as people land on your website, they should get an immediate sense of who you are, what you do, and if they're your people. This might be as simple as updating your imagery to feature a stronger curation of your portfolio or giving your copy a look over to make sure it's clear and compelling. Pro Tip: Read it out loud to catch errors and ensure the tone matches what you’re striving for.

2. Overhaul your hashtag strategy.

3. Tidy your Pinterest.

Day Two

Where Do You Hang Out? It Matters.

Now that you’ve defined who your ideal client is, you need to show up where they’re spending their time. It’s important to realize this is likely very different from your go-to accounts or where your design network is gathering online.