The natural tendency among small businesses during an economic slowdown is to conserve resources as much as possible. Marketers who begin to see a decrease in sales as a result of troubled economic times may be tempted to cut their advertising budgets in order to make ends meet; however, relevant marketing data reveals that this is the wrong decision in light of research results.
Research indicates that businesses that maintain or increase their advertising budgets during a recession experience positive sales growth. During the 1981-1982 economic slowdown, businesses that maintained or increased their marketing campaigns actually averaged higher growth during the recession and in the three years following the recession. At the end of that three-year period, those businesses that had remained aggressive in advertising had risen over 200% in sales compared to those who cut their advertising budgets.
Similarly, during the 2001 recession, those business owners who maintained or increased their marketing campaigns enjoyed more than twice the average increased market share in the post-recession business climate.
There are several options when it comes to marketing during a recession. Some of the most cost-effective ways to do marketing during recession is to do cross media marketing that are more targeted and measurable. Direct mail campaigns that utilize Variable Data Printing (VDP), Personalized URLs (PURLs) and Landing Pages are some of the powerful cross media marketing options that guarantee measurable results. With the emergence of digital printing technology, short run printed marketing collateral are finally affordable. Businesses can print personalized and customized brochures and other marketing pieces on-demand using the digital printing technology. By employing these more viable options, companies can still continue to do marketing without having to completely cut down on their marketing budgets.
So how should you advertise during a recession? In a word: aggressively. Be aware that many competitors may be slowing their marketing campaigns. Take advantage of the changing business climate to get the word out about the unique value of your products and services. Integrates the technological advances of the web with print media and deploy powerful and effective cross media marketing that will make your company stand above the crowd during this economic recession.
Want more information on increasing your market reach? The experts at OneIMS will guide you through a variety of available options within your budget. For more information, contact OneIMS today at 1-888-ONE-IMS1, or send an e-mail to info@oneims.com.
