When The Going Gets Tough,
                               The Tough Advertise

As our economy slumps many businesses find themselves squeezing every last penny out of their budgets. Often, companies believe that the first thing to go should be their marketing and advertising departments. However, savvy businesspeople have known for years that “When times are good, you should advertise. When times are bad, you must advertise.” Recessions are part of the life of all companies, and how they react during a recession determines whether they will merely weather the storm or emerge stronger than ever, ready to dominate their market.

At first glance, increasing advertising during a recession may sound foolhardy. Sales will slump anyway, so why compound the problem by throwing money at it? What goes unnoticed is market share. Companies that continue and even expand their marketing campaigns during a recession gobble up market share, taking away from more timid companies that cut their marketing programs. Sales may not seem to increase due to the slow economy, but once it turns around, those companies that continued to advertise will show a 256 percent rise in sales over businesses that cut advertising budgets. Remember, even though some large corporations may have put building plans on hold, they are planning ahead now for the end of the recession. If you don’t continue to maintain your marketing presence you’ll be forgotten when they start building again.

You also need to find out if your ads are hitting their targets. In a down economy, expensive marketing techniques like branding are hard to justify. Many companies funnel money into these campaigns at the expense of other, more precise forms of advertising. To hit your target audience, make sure that the marketing you choose to use is tactical and efficient. Stay away from image-based advertising and focus instead on more personal and direct ways to reach customers.

Keep in mind, your customers are precious: don’t allow other companies to woo them away. Call up clients and keep in contact to help that relationship stay strong. Another key way to retain customers is to make sure your customer service is efficient and friendly. Don’t give companies a reason not to work with you. If you make your customers happy with friendly service, quality work, and efficiency, you will be taking the first step in recession-proofing your business.

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© Nehlsen Communications 2006-2008