Why it pays to advertise and make noise in a slow market
When the economy slows down and sales dip, businesses are often tempted to cut their advertising and marketing budgets. This strategy, generally intended to preserve the bottom line, can have unintended consequences. Customers will feel abandoned. Prospects won’t know you exist.
On the other hand, if you continue to advertise and reach out to your target market despite external forces, you send a strong message. Your willingness to keep the conversation going can reassure and build confidence in your offering.
Advertising during tough times is a golden opportunity.
Because some of your competitors will choose to be silent when the economy is tight, there’s a greater likelihood your message will be seen or heard. After all, it’s easier to break through the clutter when there is less clutter!
The businesses that forge ahead with their marketing efforts are planting seeds for growth. A good example of this can be seen in the recent ad buys by a group of Connecticut hospitals. These organizations are aggressively marketing their services, despite the sluggish economy, because they recognize it’s essential in the battle for market share.
If you’re hesitant to put money into a direct mail campaign, refreshed web site or other marketing effort when sales trend downward, think again. Can you really afford to reduce your marketing budget and diminish your presence in the marketplace? Your customers and prospects are counting on you. Instead, be bold. Invest in your brand and keep your business top of mind with marketing that touches your customers and prospects.