Advertising in The Current Economy
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Posted On :
Aug-03-2009
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Article Word Count :
537
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In a recession one of the first budgets to get cut is marketing. In this article we explore why now may be the perfect time to increase advertising spend.
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Recent reports suggest that the recession is far from over and most sectors of business, from recent a company formation to an established brand, are feeling the pinch. Nowhere is the threat of depression more real than in the advertising sector. Rates are at an all time low, inventory remains unsold and for many people working in the advertising industry redundancy is a real possibility. Yet many leading entrepreneurs suggest that recession provides the perfect opportunity for a small business or recent company formation to gain a share of voice.
It is a widely acknowledged concept, that in a noisy room nobody listens and yet if nobody is speaking, even the slightest whisper can be heard. This theory can be applied to advertising in a recession. If your competition is no longer speaking you can be heard, similarly, if they have reduced their marketing spend,your budget should stretch a lot further. While traditional advertising mediums, such as print and radio, are struggling to sell advertising space, some areas of the advertising industry are experiencing dramatic growth as a consequence of the recession. One of these areas is online media.
In a recession customer loyalty is one of the first things to go, so now would be the worst time for a company to stop advertising. However, as budgets are being cut, the pressure is on marketeers to ensure that every penny of marketing spend is quantified and tangible. This is one of the many reasons why online media has experienced a period of relative growth during these tough economic times.
Advertising online offers businesses transparency and the opportunity to get a marketing campaign off the ground immediately, assess its success and make any necessary amends. Indeed, the Internet in general provides advertisers with increasingly interesting platforms of communication. Here are a couple of ideas on how your company can make the most of advertising online during a recession:
1. Social Media— The rise of social media sites such as Twitter and Facebook has been well documented. The success of these communication platforms rests on one fundamental premise - conversation. Social media site have the ability to amplify the conversation surrounding your brand like no other platform; however, if you are to use these sites successfully, you must be as committed to conversation as your customers; taking the time to reply thoughtfully and resisting the temptation to saturate your page with shameless promotion.
2. Take a Fresh Look at Pay per Click – The increasing sophistication of search engine marketing, has meant that, for most consumers, the internet is the first place to go before they commit to a purchase. Therefore, it is vital that your brand is online.
3. Say Goodbye to Snail Mail — Email marketing has revolutionized business communication. The key to any successful email marketing campaign is audience segmentation and creativity. Why not give it a try - remember, your clients want to speak to you.
Though the economy has slowed down, that does not mean that the small businesses sector should emulate its pace. Indeed, investing in strategic marketing now may mean your company emerges from the recession stronger than ever before.
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Article Source :
http://www.articleseen.com/Article_Advertising in The Current Economy _2223.aspx
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Author Resource :
My name is Katie Perry I am the Digital Marking manager for company formation website Companies Made Simple
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Keywords :
company. company fromation, company registration,
Category :
Business
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Advertising
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