Business Advertising: Winking In The Dark

Business Advertising and the advantages of marketing in a down economy. CPAs, financial services firms, payroll companies and other professional services firms can all benefit and increase their presence as a leader in their industry by communicating valuable information to their clients, prospects and referral sources during a recession. This video discusses the reasons and cost-effective ways to do available.

Transcript:
Winking In The Dark -- Author Teresa Ambord
Doing business without advertising is like winking at a girl in the dark. You know what you are doing, but nobody else does. That quote from Stuart Henderson points out why you should never be too busy or too cash-strapped to advertise your business during slow economic times.

Your budget may be tight, but the one thing you truly cannot afford is to stop marketing your firm, in good times or bad. A study by McGraw Hill of 600 businesses determined that those companies that held steady or increased their marketing saw revenue increases during and after the recession. Another study showed that businesses that engaged in advertising during a recession increased their market share 2.5 times.

Are you thinking of waiting till the economy is fully back on its feet to begin advertising again? Don't make that mistake. Eighty percent of businesses that waited out the recession gained zero percent of market share, while their competitors pulled ahead of them. During hard economic times, the public becomes more choosey. With so many enterprises closing their doors, if you pull back advertising the public might easily get the idea that you are in bunker mentality, struggling to hang on through the storm... or they may think you've gone out of business altogether.

Clients need to hear from you or at least hear good things about you firm, especially when they may be struggling too. Advertising your firm lets them know that yes, you are still there and still ready to serve them.

What is a cost-effective way to do that? Make the best use of the Internet, and ensure that every communication you have with the public is high-quality and useful. Keep in mind, marketing your business does not have to be expensive, but it has to be done. Without it, you may as well be winking in the dark.
Author: Teresa Ambord
Copyright: BizActions LLC

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Education

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