Marketing in a Recession: Should I Spend on Ads Right Now?
"If I was down to my last dollar, I would spend it on public relations." - Bill Gates
Let Consumers Know You Are Still There!
Cutting advertising budgets might seem like a fast, easy way to save money now, but how will that pay off in the long run? In times like these, the eyes of consumers are glued to the news channels and their phones looking for constant updates. If your ads aren't running, someone else's are!
Advertising during the tough times lets consumers know you will still be there for the good times, and will put your business at the top of the market when the economy begins to recover.
While it might not be realistic to maintain a full marketing budget in a recession, there are still ways to get the most out of your marketing dollars. Targeting consumers through social media is a cost-effective way to maintain a relationship with your audience in a recession - paid Facebook campaigns are an easy way to facilitate ongoing communication with your customers. Advertising during popular shows and news segments is a surefire way to engage with the audience you want, and gain high levels of exposure at the same time!
Building and maintaining strong brands, ones that customers recognize and trust, remains one of the best ways to reduce business risk. Cutting advertising can be detrimental to the strength and integrity of your brand, don't let it happen to your business!