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Can you afford not to be marketing during a recession?
Has your company been feeling the force of the credit crunch era we’ve plunged into? No doubt you have. And I bet you’ve been looking at ways to cut costs too? So the free coffee during board meetings may have gone, and the sandwich lady has stopped buttering bother sides of the bread, but surely now is the time to increase your marketing spend?
Don’t think you can afford to spend any money on marketing this month? Then you’ve been spending your money wrongly. The whole purpose of spending money on marketing is to get a greater return on your investment, whatever that may mean to your business. Most companies will have already slashed their marketing budgets, meaning you’ve got the opportunity to get in there and promote yourself to their customers. If everyone else stops sending out flyers, doesn’t this give you an opportunity to get yours seen above all others? Of course it does.
If you decide to cut back on your marketing now you may lose a share of the market which will cost a lot more to win back. To suddenly drop off the radar of your potential customers can be off putting. If you expect a flyer to arrive on your desk every Monday and then all of a sudden it doesn’t turn up wouldn’t you think the worst?
The problem is that most business owners see marketing as a cost that can be cut without it effecting sales immediately, which isn’t the case. Once you’ve lost that customer to your competition it’s no easy task winning them back.
Now is the time to refresh your image. Perhaps a new website, brochure or even complete rebranding? Now is the ideal time to take advantage of the fact that many companies have cut their marketing budgets. Even the biggest companies have taken to reducing their marketing spend, giving you the chance to get a larger foothold in your industry. Now is your golden opportunity to reach out to customers who are now lost looking for the service or product you provide.
The news come from http://www.bossgoo.com
