"Businessweek" columnist Steve Mckee says "don't let hard times derail your advertising."
That might be a hard pill to swallow right now but disconnect yourself for a moment from the climate of fear that's being propulgated from the 24-news machine and see your business in the light of a logically thinking individual.
McKee writes that "...nobody knows what's coming, and in an uncertain environment fear becomes the common currency. As the bad news continues to unfold, we are all looking for ways to hunker down and protect our slices of the pie."
The unfortunate thing is many times hunkering down leads us to act in desperation which could harm your business not only now but in the long term.
Mckee cautions against an advertising panic. Many companies cut back their advertising drastically during times like these only to "...sacrifice the future on the altar of the present." Other companies deeply discount "...which is almost always a mistake."
Mckee says "as an advertiser you can contribute to the fear or you can help diffuse it. The more consumers perceive you going about your normal course of business, the more normal things will feel to them. And the more quickly we can all get back to normal."
The choice is up to you. I remember in my basic econonics class at the University of Georgia that the economy is fundamentally cyclical. Many will make well out of this so-called downturn. Those who go into hiding will logically and statistically lose market share. Those who maintain their presence will grow not only now but statistics show, they will come out on top when this cycle comes out of its current position.
If you want to come out on top, call me.
I've got case studies of advertisers who are getting results with me right now. I'd be happy to share with you.
In my next blog entry, I'll look at "5 Dont's for Marketing in Tough Times." This will really equip you to weather the storm.
Good selling. Mike