SmallBizNews
Featured Article
Reduced Advertising in Bad Economy Sends
Sinking Message to Customers
by David Williams - May 13, 2009
Categories: Cutting Advertising in a
Recession, marketing, advertising,
internet marketing, advertisement,
spending, recession, sales marketing,
marketing online, advertising agencies,
advertise, marketing advertising,
business marketing, marketing plan,
advertising agency, marketing strategy,
web marketing, marketing research,
marketing services.
Does it really pay to advertise during a
recession? A Special Report by Ad-ology
reveals how cutting advertising
during slow economic times actually
harms the consumer's perception of your
business.
In fact, according to Ad-Ology's special
report “Advertising’s Impact in a Soft
Economy,” nearly 50% [over 48%] of
American adults believe that a lack of
advertising during a recession indicates
the business must be struggling.
Likewise, the majority of U.S. adults
believe that those businesses that
continue to advertise are being
competitive and are committed to doing
business.
Surprised by these Findings? -
We shouldn't be!
In October of 2008 I expressed that a
slow economy is not the time to trim
advertising spending. See
Continue
your marketing efforts in
the October 2008 issue of SmallBizNews
titled:
Succeeding in a Struggling Economy
Other Key
Findings:
 |
Advertising appears to play a key
role in consumers’ view of how a
business is doing, and by not
advertising, businesses may be
sending a warning signal to current
and potential customers.
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|
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40% of consumers use coupons more
now than a year ago.
|
|
|
Most consumers are as willing or
more willing to pay more for
‘healthy’ or ‘organic’ products than
they were a year ago.
|
|
|
A ‘deeply discounted price’ was the
number-one factor that would make
consumers more likely to purchase a
big-ticket item (+$1,000).
|
|
|
TV, newspaper, direct mail, and
Internet top local media from which
consumers saw/heard an ad within the
last 30 days that led them to take
action. |
|
|
Store Web sites ranked second
only to search engines as
the way
consumers research products and shop
online.
|
Small Business
owners need to be Teachable in Slow
Economic Times
Okay, so I tooted my horn for stating
these things before there was
quantifiable data to support my
statements. Small High Five and now we
we move on...
You've read
the news.
You've seen
the data.
Now, what are
you going to do to help your business
grow in this economy?
Seriously, this is not a rhetorical
question; the consumers - YOUR POTENTIAL
CUSTOMERS are trying to teach you the
ways to improve your perception and
increase your bottom line.
Are you
teachable?
Are you
adaptable?
Are you
taking proactive steps to achieve
sustainable growth?
If not, what is
holding you back?
As for me, I am preoccupied with
accomplishing those tasks in front of me
right now. While I count it a great
blessing to be busy in this economy ~ I
also recognize the urgency to maintain
and strive to improve my marketing
efforts if I hope to be busy 3 months
from now.
If you are like most small business
owners ~ you too are extremely focused
on those things that require your
immediate attention and consume your
energies. How many times do you go home
at the end of the day knowing you were
very busy but wondering just how
fruitful those efforts will seem a week
from now.
Remember the cliché "Work Smarter - not
Harder?" This is where the rubber meets
the road. Each and every one of us needs
to take inventory of our to do lists and
see what we can delegate as compared to
doing it ourselves.
Do you really
need to be at the sales counter?
Do you really
need to be the one to assist that
specific customer?
If so, why?
Haven't you hired good peole and
invested time, money & training into
your staff? Empower them! Give them
ownership and trust them to seek your
assistance when necessary and take a
small portion of your day to invest in
the future of your business.
All the best,
Dave Williams
David Williams
offers affordable; marketing,
advertising, internet marketing,
advertisement, sales marketing,
marketing online, advertising, business
marketing, marketing plans, advertising
agency, marketing strategy, web
marketing and marketing research
services.
Be sure to check out
previous issues of
SmallBizNews for other Internet
Marketing ideas as well. We invite your
ideas, comments and suggestions. |
