Advertising during a recession makes good sense & provides opportunities

 

By Robert E. Wilson, Jr.*

In advertising there are short term benefits—it creates sales immediately; it generates added business from current customers; it brings in new leads and prospects and Long term benefits—it works cumulatively. The more familiar people become with a brand, the more favorable they feel toward it, and the more likely they are to buy it. People don’t like to do business with strangers—advertising introduces you to your customers.

Maintaining brand recognition is an on-going business investment. The moment it stops it immediately begins to lose power and future sales are in jeopardy. Studies have shown that it takes four to six months to see the results of an advertising program. Cutting back is like throwing away your investment. Maintaining your presence today costs much less than rebuilding it tomorrow.

Advertisers should work to get the most out of their advertising dollars by eliminating emotion-based, image building advertising and use instead informative ads that demonstrate their product/service’s superiority. Research reveals that companies who maintain or increase advertising during periods of economic slow-down will boost market share.  In fact, leading companies increase their advertising budgets. The benefit is clear—when fewer competitors are advertising, the ones that continue or increase their advertising win.

 

*Award-winning advertising consultant; former Georgia State University professor, advertising