Build off of perception
Don’t believe everything you hear in the media about the economy. While it is true that in the last two years, we’ve suffered a significant economic decline, you can’t wait for news broadcast saying “the worst is over” before your company invests in marketing again. The world is a more cautious and thrifty place now and it will take time and more companies to take that step forward before consumers will start to believe in the recovery. But again this presents a “good opportunity.” Let your company be one of those that consumers have been waiting for. Show them that in the face of what is still perceived as a down economy, you are strong and so are you services. Instill confidence now in the face of your competition and shape a clientele that will be with you through thick and thin.
The economy is recovering all around you, car sales are improving, homes are starting to sell and banks are able to allow for individual/business investments again. If your company doesn’t take advantage of the opportunities that are in front of it now, the only down economy in the near future will be yours.
According to an article in About.com
“McGraw-Hill Research conducted a study of U.S. recessions from 1980-1985. Out of the 600 business-to-business companies analyzed, the ones who continued to advertise during the 1981-1982 recession hit a 256-percent growth by 1985 over their competitors that eliminated or decreased spending.”
“Similar findings were shown for the economic downturn of the mid 1970s. These studies reaffirm the notion that in good times and bad, it pays to advertise”.
“Customers will identify with and remember those companies who stuck it out during a tough economy”.
One major opportunity now exists in today’s economy, but only the savviest of entrepreneurs will seize upon it. The opportunity right now is for a business to be leader of the pack, a standard bearer who clearly tells consumers that the economic recovery is at hand. I must caution you that this opportunity will not last very long and in fact, while some business owners are still waiting for confirmation of a recovery, others are already getting a jump on their competition. It’s still not too late! No matter what the state of the economy, there is never a bad time to seize opportunities and build your Brand; but it’s always the wrong time to stop.