Generally, cutting back on advertising is a bad idea. Studies have shown that businesses who keep advertising during economic trouble do much better than those who don t when the economy comes around.But I think it would be a good idea to examine the effectiveness of your advertising. A percentage of your advertising money is going to waste, maybe even a large percentage. I know this because it is true for every single business.Can you track what your advertising is producing in real sales? Are some of your media choices performing better than others? Even if you can t precisely track results, does your instinct tell you that some of your ad money is in places that aren t really producing results?One idea is to eliminate what you think is the weakest advertising you are doing and see what happens. Also, if you are doing a lot of Yellow Page advertising, for most businesses it isn t necessary anymore. When was the last time you saw a person pick up the Yellow Pages?
No ... you need advertising. That s the last place to cut costs. You can get slightly smaller ads and negotiate the rates more but keep the campaign going. Pay attention to where and how you are marketing/advertising meaning concentrate on increasing things that work and cut out or cut back on things that don t. Use the power of the web and word of mouth to your advantage. NOW is a great time to advertise because the economy is rebounding and it usually takes time for the marketing efforts to start paying off. By the time we are recovered, your ads will be in the front and center minds of your target audience. If you want to cut costs find other ways to do it without damaging your reputation. The main focus needs to be on customer service. Try getting suppliers to discount your purchases and don t be afraid to shop around. Remember... tis the season!!! Get those new customers in but retain and reward loyalty.
Keeping a business alive in this economy or any economy for that matter takes the proper placement of your business foundational cornerstones. Think of your business like a house. If you are missing any of the four corners in the foundation, your structure would be weak and unstable. If your business foundation is strong including the structure that you build on it, then your organization will weather the storm.The Solid Foundation-1. Good Credit and Cash - If you do not have impeccable credit, ensure you get it! Go to http://ineedagoodcreditscore.com and talk with these folks. Their attorneys are the best in the nation and will represent your credibility with unbelievable results. With a top notch credit score you can reduce any high interest premiums that you might be paying now. The savings is substantial! Use the money saved and engage growth initiatives to expand the strength of your business. And always look for additional lines of credit!2. Solid Product or Service- Ensure the product or service that you represent is viable for today s consumer. Always look for ways to ensure quality and expand on it! And don t forget customer service with a smile.3. The Plan- Original business plans always change! You have to conform to achieve success. If something in your business is getting resistance, than you should reduce the resistance and push forward. A strong plan put into motion with a constant commitment to action equals effective execution. 4. Marketing- Always continue to expose your business. Never miss a opportunity to market you or your service. I suggest engaging a professional firm that can consult with you. A professional organization will put you on the right track. One of the top marketing companies that I have worked with for all of my on and off-line marketing is Top Dog Marketing Group. Absolutely OUTSTANDING Results! http://topdogmarketinggroup.com/ Check them out! It s definitely worth your business while.Your viability and credibility is essential. Always push for peak performance in every place you can! Consumers are holding on to their money tighter now than ever before. I believe this to be a good thing. They then will engage the companies that actually have solid worth. Reform yourself to be one of the business entities that is still standing at the end of this bad economy!Additional Note- Remember- If your current team is having trouble winning the game, start expanding your team with all-stars that can pick up the slack anywhere you need it!Regards and Good Luck!The Credit Wolf
Just the opposite!Many of your competitors will be short sighted and cut back. Advertising isn t a cost, it s an investment that provides a solid return if done properly. Now s your chance to steal customers by being top of mind. Your local radio station can help you.When you have all the business you can handle is when you should cut back on your advertising.
Well I would suggest to try adverting more on the internet! Internet is a number one usage theses days! I have a printing company called SuperFinePrinting which is 30 years old and I have a website which helps bring in alot of business! People are online all day! ADVERTISING is a must cut back on something else. Maybe move your business to a smaller office and let people see you all around the internet!!
