Panem et Circenses, literally translated, means bread and circuses. It was a phrase originally coined be the Roman satirist and poet Juvenal to describe a political strategy for the wellbeing of Roman citizens. In other words, keep them fed and keep them entertained whilst the Roman empire went into decline.
It has certainly been a Summer of circuses here in the UK with the Jubilee, the Football World Cup, Wimbledon and now the Olympics from which the feel-good factor, for us Brits, has never been higher.
But all this partying comes to an end on Sunday after which the hangover will hit, and it will hit with a capital H. The UK economy has flat-lined and the Bank of England has cut it’s growth forecast to zero for this year, the UK trade deficit as at a 15 year high and UK borrowing continues to increase.
So what should businesses be doing in the face of such an economic climate? When production is low and the order book is looking thin it’s time to pull out the stops on marketing. Faced with cash flow problems and squeezed budgets then online marketing is the way to go.
Forget those expensive ads in the trade journals. Don’t bother renewing the Yellow Pages subscriptions, just go for a free listing. Instead invest in your website. Get a blog set up and use it to start spreading your messages.
Don’t forget social networking either – Facebook, Twitter, LinkedIn, YouTube, iTunes. They’re all free.