Getting More from Less: Making Your Advertising Dollars Work SMARTER.
As you know, a recession can really take a toll on a marketing budget. So what to do? The answer lies again in getting MORE from LESS - by making your advertising dollar work smarter.
Some inspiration to keep in mind...
A downturn creates the opportunity to accelerate growth faster than your competitors.
Over the years, study after study has proven that to remain in the game, you need to maintain your advertising during an economic downturn. A popular McGraw-Hill Research study showed businesses that maintained or increased their advertising during the 1981-1982 recession averaged much higher sales growth than those that eliminated or decreased advertising. By 1985, the consistent advertisers' sales had risen 256% over those that didn't keep up their advertising!
You have less competition in the public eye when times are tough.
As weaker companies cut their advertising in a slow economy, yours will stand out that much more, creating a bigger impression in your market's eye. And in ultra-competitive markets like Real Estate, it's imperative that you make that connection.
Remember to offer reassurance, emphasize long term value, and reinforce the benefits of your services.
Research has dictated that during economic hardships, your advertising focus should never be viewed as lofty, aspirational, overly optimistic or too light-hearted. You need to appeal to the buyer who has a tendency to go with safe solutions. You'll build trust by including customer references, reviews, awards and other validation as part of your marketing.
Now is the time for long copy ads, advertorials offering expert advice, and directing your target market to your website - provided that it empowers potential clients with rich and valuable information. Email newsletters are particularly good choices as they allow you to demonstrate your expertise and keep you in front of your clients, building a strong and consistent brand for now and for the future.
Remember, a strong strategy now will not only help you through the tough times, but strengthen your market position for when the recession finally blows past.
Contact us today to see what we can offer to your current advertising methods.
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