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On the TV again today was another business pundit explaining how certain companies were feeling the pinch because of a retraction in advertising spend. The cooling economy in USA had impacted many media companies who rely on advertising for the bulk of their revenue.
It seems counter-intuitive to me, but just when people need sales the most, they pull back on their advertising. Doesn’t this seem strange to you?
There are two powerful reasons why a slower economy might be the best time to advertise!
- Lower prices
- Fewer competitors
In fact, the fewer of your competitors who are advertising, the lower you costs will likely be also. Isn’t that the perfect recipe for any company looking to expand their advertising or test new outlets?
Fancy having the field to yourself AND be able to negotiate bottom-dollar prices. Sweet.
Right now might be the best time for anyone who has only ever advertised online to try some advertising in print. You don’t know how low you can negotiate prices until you try, but right now is probably the ideal economic environment to get a deal.
The key advice is to track performance of every piece of advertising you do. You want to only keep those ads and publications that work to drive conversions.
Use tracking codes, dedicated telephone lines and website URLs so you know where your sales are being generated. Fix or drop those that underperform.
Remember also to capture the prospect onto a list, don’t necessarily try for the quick sale but gain permission to contact the person in future using an incentive.
It could be if you play your cards right an economic slowdown could be just want your company needs to help you grow and build on its success!
Over 120 pages of tips and techniques to
