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Part I: Fewer sales? Then turn up the volume!Admittedly, things are tightening up out there. Job losses are mounting and although business bankruptcies are down a little over the past year, consumer bankruptcies are up 9 percent across Canada according to our client, the Office of the Superintendent of Bankruptcy. The result, of course, is that sales are dropping in almost every sector.If you are like many business people, you might be considering laying off staff because current revenues can't support them. You may be keeping a smaller inventory and stretching payments from 30 to 45 days. You've probably looked at every budget line in an effort to determine where you can cut back. Understandable. And, if you are like most, your first cut was to your marketing and public relations budgets. That is not so understandable. Why? Because it defies logic and, more importantly, flies in the face of the evidence. First, let's look at the logic by asking a simple question. Why, during a time when you need the sales most, would you stop telling people about your products and services and the benefits they bring? If anything, now is the time to step up your marketing efforts. Now is the time to remind people that you have what they need. Now, the evidence. During the recession and gas shortage of the 1970s, Toyota couldn't make its small cars fast enough. Because sales were good, the temptation to cut the marketing budget was excruciating. But Toyota executives had the foresight to realize that not only was the landscape quieter, allowing them to be heard more easily, but when the recession—and gas shortage—ended, they would still have to sell small cars. They wanted to be remembered. Its decision to continue marketing through the recession paid off handsomely. When the recession ended, Toyota beat out Honda and Volkswagen as the country's number-one import—and it's never looked back. The momentum they created continues today. Remember FedEx's fast-talking executive? That extremely successful campaign was launched during the height of a recession in the early 80s (remember 22% interest rates?) and rocketed FedEx to market dominance. Miller Lite beer (Everything you wanted in a beer—and less)? Same thing. Advertising legend David Oglivy looked at marketing during the recession in the 1970s recession and discovered those who maintained marketing spending, thereby maintaining their presence in the minds of consumers, out-performed those who didn't—especially in the years following the recession. Need more evidence? During WWII, margarine was not allowed to be sold under brand names in Britain. Thinking ahead, however, Unilever continued to advertise, even though you could not distinguish it on the grocery-store shelf. When brands were allowed back on the market, guess who killed the competition? Of course, it was Unilever. Remember, in a recession, fewer business are advertising and it's easier to be heard. Oh, and media rates drop in a recession, too. BONUS! This is the time to steal market share and gather momentum for later. What are you waiting for. Get out there and grab market share! If you would like to take advantage of this lull in the marketplace to gain market share and sell more products and services, call us today at Adams Jette Marketing + Communications at 613.235.5445 or email us at info@adamsjette.com.
Ready to take your marketing online—effortlessly?
Ask us about TOUCHpoint, a new end-to-end email-marketing product designed to improve sales among current customers, those people who already know and trust you. Call 613.235.5445 or click NOW to find out how! |
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