Smart business owners advertise during a recession. AND YOU SHOULD TOO!
It’s often stated that it’s smart to advertise during a recession. Have you ever wondered why this statement comes up every time the economy suffers? That’s because it’s true!
Advertising during a recession is the right thing to and there’s research top back that up.
A McGraw-Hill study of 600 businesses found businesses that maintained or increased their ad spend saw higher sales growth during a recession and in the years following. In fact, the study found those who maintained or increased their ad budgets experienced a 256% increase in sales compared to those who cut their budgets.
Another study discovered businesses that advertised during a recession saw their market share increase 2.5 times.
And don’t think that waiting until the recession is over to advertise is the correct thing to do, consider the following; a third study revealed 80 percent of the businesses that waited until a post-recession economic expansion to advertise saw no increase in market share. This, of course, is obvious since everyone else began advertising again.
Sadly, I have found that many local businesses do not take these facts to heart. Rather, they keep their fingers crossed,
cut the advertising budget and pray. Of course sometimes local business owners run out of money and have no budget. And all the desire in the world to advertise isn’t going to change that sad fact. But if you can consider paying monthly by direct debit rather than in advance then study proves, time and again, advertising in difficult times is the smart thing to do.
Now for the sales pitch. if you want low cost advertising in Sutton Coldfield, Great Barr or North Birmingham then give us a call on 0121 351 6513 so we can show you the benefits of advertising in Recommended Magazine (Sutton Coldfield), Walmley Pages Magazine (Sutton Coldfield), The Great Barr Gazette (Great Barr, Birmingham) or Recommended Online (Sutton Coldfield).
