If you are one of the many business owners that are simply sitting back waiting for the economy to shift in a positive direction, you are more than likely losing market share to a competitor. A competitor that is taking aggressive action by beefing up their marketing and advertising efforts will move in on your turf without question.
Even in a down economy, opportunities are around every corner you just have to be willing to go after them and spend a little time and money to reap the rewards. Studies show that in past recessions the companies that continue or even increase their advertising came out of the recession stronger and more profitable that those who sat back or cut their marketing dollars.
McGraw-Hill studied 600 businesses during the 1981-1982 recession, and found that businesses that maintained or increased their advertising expenditures averaged higher sales growth during the recession and in the three years following. Likewise, in 2001, another study found that aggressive recession advertisers increased market share 2 times on average for all businesses in the post-recession economy.
You can choose to sit back and you may survive this recession or you can choose the high road and capture more market share setting the tone for your company’s growth when we do come out of this recession.
Tim Somers
Bizarre Promotions, Inc.
