Have you cut back on advertising and promotion? Too many small business owners consider marketing to be an expense rather than an investment. When times get a little tough… and let’s face it, they are now… they look for ways to cut expenses. And marketing, advertising, direct mail, web site promotion, anything that takes money is considered. Heck, most don’t enjoy marketing anyway. And they’re not really seeing concrete results from their advertising or direct mail, so it’s a no-brainer to just stop doing them.
Consider this: Most of your small business competitors are cutting back on marketing right now. Even big companies are cutting back, which leaves you with a golden opportunity. If you feel like your ads have been buried in the past… If you feel like your direct mail promotions have been lost in a stack of competing mail… now is the time to be in a smaller stack. Now is the time to stand out in the publications you advertise in.
If you believe that the market will come back one day, you must understand that the brands that kept advertising through the down time will be the names that come to mind first when buyers are ready to come back. If you disappear during this time, you will start all over again on the project of building brand recognition and trust when the market comes back.
Wouldn’t you prefer to be the first business buyers flock to when the economy turns up? It’s especially important for a small business. Marketing consistently, continuously throughout the year is the key to long term growth and profitability. Don’t make the mistake of stopping now. If you have to cut back, buy smaller ads, or mail post cards in stead of complete packages. But be in your prospects’ face regularly, consisitently, and they’ll think of your first when it’s time to start buying again.