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Why Advertise in a Down Economy.

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Why Advertise in a Down Economy.

  1. 1. Why advertise in a down economy? Ken Sethney [marketing coach]
  2. 2. But occasionally, we find ourselves in the middle of a recession. Nobody likes the “r” word.
  3. 3. The question is... what do we do about it?
  4. 4. You want to cut costs, but where?
  5. 5. For some the decision is easy, the first thing they cut is advertising.
  6. 6. But you’re not so sure.
  7. 7. I can think of six solid reasons to continue advertising during a recession.
  8. 8. They might even justify boosting your budget...
  9. 9. but only if you are prepared to come out the other end as a market leader!
  10. 10. Advertising can help you capture market share. Act now while weaker competitors are slashing ad budgets and waiting out the storm. - 1 -
  11. 11. Your sales team needs help, now more than ever. While existing customers are cutting orders, advertising is needed to identify new prospects.  - 2 -
  12. 12. Your customers have short-term memories. What have you done for them today. If a competitor continues to advertise, he is the one most likely to be called. - 3 -
  13. 13. Consistent advertising generates sales, but it takes time. Advertising has a cumulative effect. If you cut your ads today, you’ll lose the ground you’ve gained. Continuity is the single most important factor in effective advertising. - 4 -
  14. 14. There is more to advertising than immediate sales. It can be a cost-effective way to keep in touch with customers, to let them know you are alive and well in spite of the slow-down. - 5 -
  15. 15. New conditions can create new opportunities. The recession may be creating new prospects for your products or services and advertising will help you find them. - 6 -
  16. 16. ©2008 Ken Sethney [marketing coach] For free tips on marketing, visit my blog at rkenneth.wordpress.com