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Advertising In A Recession

22 March 2009 10:15

The normal reaction to any economic "threat" is to reduce outgoings and increase income.

But, what happens in an economical slow down if my income also reduces?

Solution: Advertise

Aim: The overall objective of a marketing campaign is to gain a return on investment.

Strategy: Capital is invested in a marketing campaign in order to pay for advertising with the view that customers will react to the advertising and purchase the advertised product(s) or service(s). For a return on the investment the total expenditure must be less than the total income (revenue from customers).

Business tips on how to effectively advertise in a recession:

Tip 1. Make Calculated Economic Expenditure Decisions

Buy business necessities that are crucial for business growth, retaining current customers and obtaining new business. Limit subsidiary costs and resources.

Tip 2. Cost Analysis

Outgoings and Income costs need to be analysed and reduced. Businesses should source reliable and cost effective suppliers.

Tip 3. The 90 Day Plan

Your sale receipts are likely to be paid in 90 days time. During this period what actions are you going to take to secure future business to commence during the next 90 day window?

Tip 4. Have A Plan Z

If it can go wrong it will go wrong. It can happen and possibly will. Have a backup plan for the backup plan.

What if your customer isn't able to pay you?

Where are you going to source the extra income?

Tip 5. Failure To Prepare Is Preparing For Failure

Local exhibition events attract local and national businesses and promoters pay a low cost advertising fee. Why miss a captive audience? Businesses attend exhibition events because they want to source new suppliers. Be on the delegates list!

Tip 6. Seek Alternative Market Places

If you do what you've always done you'll always have what you've always had. If you know that your current business strategy is going to fail you have to change it to succeed.

Ultimate Banners "Advertising In A Recession" tips:

1. Tip 1. Make calculated economic expenditure decisions - Be proactive to remain reactive! Advertise at exhibition and other business promotion events. It is important to utilise the correct advertising equipment.
2. Tip 2. Cost Analysis – Ultimate Banners are the most competitive online retailer for roller banners. We are the number 1 choice for most businesses requiring simple and instant advertising within the UK.
3. Tip 3. 90 Day Plan – Exhibition events provide proactive business opportunities and present new windows of opportunities.
4. Tip 4. Plan Z – Generate a list of business leads from attending exhibition events.
5. Tip 5. Failure to prepare is preparing for failure – Exhibition and conference events are probably the best forum for proactive marketing for most businesses.
6. Tip 6. Alternative Market Place - Exhibitions attract captive audiences looking for new suppliers and new business solutions. Ultimate Banners can help capture your target audience's imagination by supplying quality banner stands.

Category: Advertising

TAGS: advertising in a recession,  recession advertising,  recession and advertising