Stopping Advertising in a Recession

I have the wonderful privelege of talking with a number of different industries about what's going on with their business. From dog training facilities, to varicose vein clinics, to roofers, I keep a finger on the pulse of local businesses in Atlanta.

What I've heard over the last few months from a number of advertisers is that they are stopping their advertising to save immediate cash.

Let me ask you a question that I overheard just yesterday.

Would you turn off your open sign just to save on electricity?

Think about it.

It doesn't make much sense, does it?

It makes about as much sense as people who say they are stopping their advertising to save money.

I agree that it's time to be hyper-critical about how you are spending your advertisng dollars. Right now you need to analyze what's working and what's not.

If you're going to get rid of something, get rid of the advertising that's not working or at least tweak it to make it work.

I was overjoyed to learn about the success we've help bring a varicose vein clinic who had a very dicey experience with one of my competitors. The doctor was understandably skeptical because of the $$'s lost on the other station.

We found out that so far we've delivered 115 leads to his medical center. The practice manager says that every time the campaign airs, the phones ring.

That's just one example of how we are helping advertisers get measureable results even in this economy.

If you're thinking about stopping your advertising, go ahead and turn off the open sign. I mean you might as well save a little electricity, right?

If you'd like more information on how we are getting results for our clients in this economy, drop me an e mail.

Survey: Reducing Advertising in Recession is Mistake

A new survey out says more than 48% of US adults believe that a lack of advertising during a recession indicates a business is struggling.

The survey also reports that "a large majority of consumers think businesses that continue to advertise are competitive and/or committed to doing business."

The research study by Ad-ology determined to uncover whether stopping advertising during a recession could harm a business.

Read the full report here.

If you'd like a FREE audio CD on how to develop your Dominant Selling Idea or DSI, just e mail me here.

Fundamentals of Surviving a Recession

"You need to be conservative with spending, and aggressive as hell with marketing," Rich Sloan, operator of Startupnation.com says. "You need to be resourceful, and spend only where you see performance. [This] will make you a better business person. When things turn around in three years, your business will be built on solid fundamentals."

In a CNN Money article, Rich Sloan gives some very good advice on starting a business in the midst of a recession. The advice he gives also holds true for those of you already in business trying to weather the economic storm. Let's break his quote apart.

• "You need to be conservative with spending ..." Now is the time to take a hard look at what is absolutely essential for your business survival. Do away with advertising that's not working. Concentration of force is the name of the game. (more on this in a future installment)
• "... [be] agressive as hell with marketing ..." One business coach says you need only two things in business to be successful, new business and repeat business. You get new business by advertising. You get repeat business by advertising consistently.
• "... [be] resourceful and spend only where you see performance .." Right now, in marketing and advertising, you can't afford to make a mistake. Look for a a proven results vehicle. Ask those selling advertising for references and phone numbers. They should be readily able to supply this information. If not, consider spending those marketing $$'s elsewhere.

This is good advice for both the startup and the seasoned business.

Call me and we can talk about how we can take these principles and utilize them to their fullest extent with a results-generating campaign. 404-995-7343.

An Hour Wait and What About the Economy?

What do you do when it's been a lonnnng week at work, the wife is tired of being at home with a crying baby, and you're hungry?

The obvious answer is -- you go out for dinner.

I love steak from Texas Roadhouse and so does my wife so we decide to pack up Baby Alex and Ms. Anna and set out on a family adventure.

We're thinking -- it's a bad economy right now. Surely we can get a table quickly.

Wow! Was I surprised.

First we circled the steakhouse parking lot 3 times looking for a parking spot. Then, we played chicken with a car vying for the same spot. I was in a Ford Expedition. He was in a Chevrolet Malibu. Guess who won?

We then had to almost crawl over people just to get to the hostess station so I could beam proudly as a new dad and say "3 1/2 please."

What follows is an exchange I wasn't prepared for. The congenial hostess says to me, "The wait is an hour to an hour and 15 minutes long. Would you still like a table?"

An hour to an hour and 15 minutes ???

I thought we were in a deep recession. Soup lines were about to form. And stimulus packages were cooking for the common man in DC.

Not in Newnan, GA.

We ordered our steaks and trimmings --- total of my ticket $38. You do the math. With an hour wait and most people's average ticket at $50 or more, the restaurant made a tidy sum tonight.

What this tells me is that there are $$$ in the market being spent. You just have to make sure your message is clear and concise enough to get those with the $$$ to spend it with you.

Right now is THE time to grow your Share of Voice (SOV). And you can do it more affordably because of the current climate. Do it now and you'll not only succeed short term but empirical studies show, you'll come out ahead when the downturn is over.

Want to find out how?

Contact me: thecopee@gmail.com