impact house . barnsley . south yorkshire . tel: 01226 710106 . mob: 07950
846544 . e-
With banks reluctant to lend and the general public drawing in the purse strings of course it’s only natural that businesses large and small are also doing the same.
Cutting down your overheads and paying invoices at the eleventh hour to maximise cash flow are always popular strategies in times such as these. Unfortunately, the marketing budget tends to be one of the first of the afore mentioned ‘overheads’ which businesses also identify for the chop.
Currently you may find yourself in the same situation but, whilst it’s understandable you want to make savings, have you considered that you may be committing corporate suicide? STOP!
Marketing is the very life blood of your business. Without it your potential customers cease to be aware of what you offer over your competitors and your sales often nose-dive as a consequence. As if that wasn’t bad enough it also means that if your competition is marketing aggressively then they’re probably increasing their market share at your expense, effectively producing profits which they’ll re-invest back into their company to strengthen their market hold further.
Although it takes courage and a good deal of considered planning, engaging in a small but extremely well targeted marketing programme during the credit crunch could not only see your business through the current storm but also lead to greater financial success in the years thereafter. After conducting analytical research into how companies marketed themselves in the recession from 1974-1975, Meldrum & Fewsmith’s (1979) investigations concluded:
“companies which did not cut advertising expenditures during the recession years (1974-1975) experienced higher sales and net income during those two years and the two years following than companies which cut ad budgets in either or both recession years” The Senior Vice President of Meldrum & Fewsmith commented, “I have yet to see any study that proves timidity is the route to success. Studies consistently have proven that companies that have the intelligence and guts to maintain or increase their overall marketing and advertising efforts in times of business downturns will get the edge on their timid competitors.”
So tempted though you may be to put your marketing plans on hold, DON’T. But should you need further persuasion to put that marketing axe down, then our key facts should leave you in no doubt that, even in the current credit crunch, your marketing budget should be the very last thing to go.
Cutting down your overheads and paying invoices at the eleventh hour to maximise cash flow are always popular strategies in times such as these. Unfortunately, the marketing budget tends to be one of the first of the afore mentioned ‘overheads’ which businesses also identify for the chop.
Currently you may find yourself in the same situation but, whilst it’s understandable you want to make savings, have you considered that you may be committing corporate suicide? STOP!
Marketing is the very life blood of your business. Without it your potential customers cease to be aware of what you offer over your competitors and your sales often nose-
Although it takes courage and a good deal of considered planning, engaging in a small but extremely well targeted marketing programme during the credit crunch could not only see your business through the current storm but also lead to greater financial success in the years thereafter. After conducting analytical research into how companies marketed themselves in the recession from 1974-
“companies which did not cut advertising expenditures during the recession years (1974-
So tempted though you may be to put your marketing plans on hold, DON’T. But should you need further persuasion to put that marketing axe down, then our key facts should leave you in no doubt that, even in the current credit crunch, your marketing budget should be the very last thing to go.
Credit Crunch Key Facts:
It doesn’t matter whether you serve the B2B or B2C markets -
Trade magazines, newspapers and other advertising mediums are all feeling the pinch so now is a great time to haggle for discounts on advertising rates.
Re-design your website to maximise its sales and marketing power and reach new customers even whilst you sleep. Get it search engine optimised to rank highly with Google, Yahoo & MSN and - if you haven’t already - get a link campaign in motion.
Build upon the relationships you have with your existing customer base - contact them and ask them how you can help them further. It’s the Holy Grail of marketing, remember: existing customers are 5-7 times more valuable than new ones!
Need help with copywriting
customer communications?
customer communications?
Want a professional telemarketing campaign?
Could you use a brand new web design?
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impact house . windsor court . barnsley . south yorkshire . tel: 01226 710106
. mob: 07950 846544 . e-
