Marketing your business while the economy is down may put your business in line to recover the fastest when the economy goes back up. Sound crazy? I was listening to an interview on CreativeCow.net about growing your business in tough times. They pointed out that many people are cutting their budget for marketing. It is obvious when I turn on the TV, I see less extravagant commercials, less advertisements for companies that used to market all the time.
But lets analyze this. More people are staying home, either out of work, or because they aren’t traveling to save money. That means more people are on their computers, watching TV, or reading a newspaper. These are all great sources for reaching your clients! And your marketing is getting MORE exposure than it typically does. In the interview I mentioned earlier, they commented that the key to success is making your business stick in the heads of your consumers for when the economy improves. Once people feel comfortable buying again, they most likely will be hungry to spend, spend, spend. Hopefully your marketing stuck in their heads, and they’ll be coming to knock on your door.
This also gives you the chance to get out ahead of your competitors. Nick Griffin, editor for CreativeCow.net and owner of Griffin Communications writes in his blog, “Indeed, case studies from multiple sources show that companies that continue to market actively during downturns often increase their market share and typically come out stronger after the turnaround. Why? Because their competitors take the knee-jerk approach and slash marketing expenditures as a simplistic way to save money. They focus on short-term savings without taking into account the long-term cost. In doing so they, in essence, withdraw from their customers rather than staying engaged.”
Ben Young
CEO – SilkMotion Studios
www.silkmotion.com
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