More Proof Why You Need to Make a Marketing Push Now!
In reference to my last post on making a marketing push during economic down times, I wanted to post an excerpt from an industry marketing publication to re-itterate that other professionals will tell you to do the same (Just in case any of you thought that I was nuts for making the suggestion!). This particular excerpt comments on Internet advertising.
“Many business analysts are advising that recessionary periods are actually times to punch up advertising to snare market share from competitors. An example is respected Harvard Business School professor John A. Quelch, who noted in a recent blog: “This is not the time to cut advertising. It is well documented that brands that increase advertising during a recession, when competitors are cutting back, can improve market share and return on investment at lower cost than during good economic times.”
But….a recession is also a time to be more efficient about advertising by reducing cost per lead and closely measuring results.
“Advertisers on our network tell us they appreciate that they can measure the click-through they’re getting and quantify the consumer conversions to the desired action — and that’s appealing during these tough economic times. Because they can prove results, they’re buying more Adfusion and less of other alternatives…..”
While print advertising still makes an impact on building a brand, maybe there is a balance between it and the more affordable online counterpart, PR and promotions. This is what we pros call an integrated program and is what every successful company does. In fact, many traditional media outlets offer online ad options and are looking to grow that component of their publication – very worth looking into.
The real keys to successful advertising campaigns are:
- Long term campaign – you can’t spend money on one ad and expect it to drive sales. Branding, in general, is a long term process
- What you say – the failure of ad campaigns are typically a result of failing to communicate appropriately to your customer.
- Drive interest/encourage trial – this is a great time to let people know about any sales promotions you’re running. People are looking for deals and steals and it will catch their eye.
- Where you say it – are you sure that you’re advertising in the right location? If your goal is to attract women you wouldn’t advertise in a men’s magazine. This is why knowing your target demographic is key – who are they, where are they getting knews, what are they interested in, etc.
Follow these tips and you will start to see a return even in a slower economy. Stick with it and remember you need determination and better messages now more than ever before.
Jennifer Fortney, Cascade Communications