Benefits of Advertising in financial abnormalities.

If you are getting hurt due to the financial crisis,rest assured, even the local newspaper, the TV station, and the radio station they are also getting affected due to this.  And now is a perfect time to bargain for ad space, both in price and position. In most cases the more advertising space you buy, the more it is discounted. So if you’re a landscaper and you’re looking to place seasonal ads twice a week in your local newspaper for six months, ask for the 12-month price. The economy will go back up again and advertising prices will rise, so see what you can do to lock in the prices for the long term.

In a recession you can count on your competitors cutting back their own marketing and advertising. This gives you the perfect opportunity to build your brand by ramping up your own. Are you the leading retailer in town? If not, now is your best chance for it.  Now is the time to let people know. Who knows, you may be the only retailer in the town. What’s more, with advertising being down overall, there is less clutter and more opportunity to get your message across.

Advertising during a sluggish economy clearly creates a competitive advantage. I believe that a majority of executives will agree to this that seeing a company advertise during slower times makes them feel more positive about the company’s commitment to its products and services. But perhaps most important is staying at the top of buyers’ minds when purchase decisions are made.

 

Advertising in a down economy is even more important than advertising during the good time. That’s when you can build market share. That’s when you have less competition for share of mind. While others are in a cocoon, hibernating until things blow over, it’s a great time to invest in your business.

A cross media approach is the best approach, according to me, because it allows your company to stay in front of customers consistently. It is very much known that executives value magazines, Web sites and trade shows for different reasons. B-to-b magazines are favorably evaluated with respect to being “highly credible sources” and “providing information you can trust.” B-to-b Web sites rate high for being “primary sources of research” and providing “access to the latest information.” And b-to-b trade shows are highly regarded for enabling “interaction with industry peers.” To stay on top of developments in your field, it’s important to seek information from multiple media sources, like business-to-business magazines, Web sites and trade shows.