The number one complaint I hear from my customers nowadays is that they are holding off on doing any further marketing until they figure out what the economy is doing. While I share their concern with the state of our economy, I disagree with making marketing decisions based off a fluctuating economy.
I had the opportunity to sit down with the CEO of a multi-million dollar corporation a few weeks back. We discussed the economy topic at length. Among other advice I took from the meeting, the most pressing to this issue is as follows: "Advertising when times are bad makes good sense." Take some time to understand the underlying principle here. Isn't the point of advertising to bring more customers to your door so you don't have to experience the "worst" of the bad times? This CEO truly got it. He didn't build his company into a multi million dollar corporation by following the norm. He realized the importance of a good marketing plan and not deviating from it depending on the economy. He knew his product, and he knew the budget he had to work with. He knew what it takes to be successful... no matter what the economy is doing!
Too many companies have a fluctuating budget and live month to month, so to speak. Allocate a marketing budget in the first quarter of every year, but be sure to leave a small reserve for opportunities that may arise in the 2nd through 4th quarter. (Those can't miss advertising opportunities. Take the time to read fliers that may come to your door, the five minutes it takes you to read the advertisement might make you thousands of dollars down the road... ask several of my clients!) Those of you who have read all my articles know that I advocate online marketing. It is the quickest, most cost effective, way to drive traffic to your business. There is no other form of advertising that markets to customers who are looking for YOUR product or service when THEY NEED IT. If someone types in AC contractors, then odds are they are looking for a AC repair person and they need them now. I urge you to allocate the majority (70+ %) to online advertising. Find a company who can get you proven traffic, list you in an exclusive advertising environment, and give you realistic prices. There are tons of advertising companies to choose from out there. Make sure you find the one that is right for you business.
Chad Sandifer
http://www.tenlist.com
Article Source: http://EzineArticles.com/?expert=Chad_Sandifer
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