Thursday, July 8, 2010

Reasons to Advertise in Tough Economic Times

"A man who stops advertising to save money is like a man
who stops a clock to save time." -- Henry Ford

When times are tough and revenue isn’t as easy to come by, it seems like the first inclination of most companies is to cut the marketing budget. But successful business owners will tell you, this is the exact opposite from what you should do. Here are the reasons.

1.) You’re open! Let people know that even in tough economic climates you are still open for business. You have to tell people or they won’t know.
2.)Mindshare/Opportunity Stay in your customer’s minds. You should advertise because your competitors are.
3.) Fish where the fish are. Target your customers and advertise where they will see you. Focus your advertising when money is short.
4.)Credibility If your marketing budget is smaller than it normally is, advertise in the best quality publications you can afford. Even a business card size ad will give your company credibility.
5.)Bravado “Never let them see you sweat”. Be confident and portray success because people like winners.
6.)Convert wants into needs. Look at the auto industry. Who ever knew we needed satellite radio, DVD players and heated seats in our cars! What about your products or services could you make necessary for your customers?
7.)Plant the seed. Stay in front of your potential customers and they will buy when they can. If you disappear, they will forget about you by the time they are ready to purchase.

It is not practical or affordable for most small businesses to retain full-time marketing, advertising and public relations staff. Hiring professionals to create and execute your campaigns or to design materials a-la-carte can be very cost-effective. Outsourcing alleviates the pressures associated with employees and can be written off on your tax return, all adding up to a huge return on investment for your business.

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