Shrinking economy? Time to shrink that ad budget.
That’s the knee-jerk reaction being witnessed at quite a few B2B companies these days. And it may be the exact wrong thing to be doing. In a recent blog post, Justin Hitt makes a compelling case for not only maintaining your ad budget in tough times, but for doubling it.
Here are a handful of Hitt’s Six Reasons to Double Up On Advertising During a Recession:
- Customers still have problems to solve. “Just because the economy is poor doesn’t mean customers aren’t facing problems you can solve,” insists Justin Hitt.
- There’s more ad space available at lower rates. You’ll never find a better environment for getting a big bang for your ad bucks than in a tight economy. “[M]ore publications are more willing to work with those who have money to spend,” he notes.
- Fewer customers are willing to spend. Go after them! “In every market, someone is buying something; they are just a little harder to reach. That means, testing new outlets may pull up someone who you may not have previously reached,” Hitt explains.
“Recessionary times … are great for getting more from business advertising, if you know how,” Justin Hitt suggests, adding: “The key is to be more focused on buyers, better measure advertising metrics, and test your marketing for results.”
Get out there! Post positive ad messages in front of prospects and clients. “[Times like these] make people more discerning to only work with those who understand and can benefit them,” Hitt concludes.
Source: Ask Justin Hitt.