A question you may be asking themselves right now is…“Should we hold off on our ad plans and cancel media buys until the economy starts to pick up?”
If this is what you're thinking, here are some points worth sharing:
1: Your competitors are probably trimming their ad budgets. If the
competition suddenly disappears and you're still advertising, whom do you think consumers will turn to when they need to buy? You!
Advertising in a slow economy just might minimize your business' decline in sales, and even increase your sales by attracting and converting your competitors' customers. You have the opportunity to
stand out and gain market share - take it!.
2: Or, vice-versa. You cut your advertising and then lose market share to the competition who continue to advertise. By reducing or cutting campaigns, you risk being forgotten about, and just may make the situation ripe for your competitors to swing in and steal your customers. This will surely create a long, tough road to recovery.
3: Continue advertising and your customers and prospects will remember you on the flip side. The economy will pick back up. Make sure you are positioned as survivors. If you maintain your ad campaigns, you will have the reputation of leaders and will be the ones that people remember when the money returns.
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