Advertising in any Economy
Temecula & Murrieta Business Owners... give your company and/or service the exposure it deserves!
- Studies show advertising during any economy produces customer loyalty and a long-term competitive advantage -
Businesses that continue to advertise regardless of economic times have a competitive advantage over businesses that trim their ad budgets. Says a media study conducted by Yankelovich Partners and Harris Interactive. The study showed more than 85 percent of business executives believe advertising during a down economy is extremely important.
Competitive advantage
Advertising during a sluggish economy clearly creates a competitive advantage, according to the
study, with a majority of executives agreeing that seeing a company advertise during slower
times makes them feel more positive about the company’s commitment to its products and
services. But perhaps most important is staying at the top of buyers’ minds when purchase
decisions are made.
When is the best time to advertise?
Regardless of the medium, the Yankelovich/Harris concludes that advertising during all
economic times is critical to the future success of companies.
Long-term investing...
While the Yankelovich/Harris study offers compelling data to support the benefit of
advertising especially in slower times, other business gurus also support the theory.
"Advertising in a down economy is even more important than advertising during
the good times," says Joyce Gioia, president of the Herman Group, a firm of
strategic business futurists in Greensboro, N.C. "That’s when you can build market
share. That’s when you have less competition for share of mind. While others
are in a cocoon, hibernating until things blow over, it’s a great time to invest
in your business."
Gioia says halting advertising during tough times is counteractive.
The bottom line is clear: If a company is not communicating with
customers when they enter the market, then that company will not be
considered in the buying decision. That fundamental truth does not
change, regardless of the economy.
While many companies readily understand the value of short-term advertising
it can be more difficult to comprehend the long-term value... think of a snowball rolling
down a mountain consistent advertising has a cumulative effect. The more familiar buyers
are with your brand, the more likely they are to purchase the brand.