Do you still want to be in business in 5 years? You always have 3 real choices in adverse situations: 1. Change the situation; 2. Change yourself in the situation; 3. Leave the situation. So, again: Do want to be in business in 5 years? NeighborWave is easily affordable and we make advertising that works long term. That means that our clients are not panicking. You can get in front of the real opportunities that you have today and tomorrow and make more money. [This article was originally written in September 2007.]NeighborWave can help your company advertise effectively in today's market for as little as $100.
Do you just want to know how? Click here for "How to Advertise in a Down Economy."
Why Should your business advertise now? Advertising has a real response rate even in a recession. What is useful for you to know is that your competitors are running away from their advertising budgets. While they run, you can Increase Market Share permanently. Is advertising in a down economy a good idea? Better than just good, it's a great idea. The economic bumpy road for 2008 is creating a great opportunity for the present and future of your business. You can advertise and compete for new customers much more cheaply. Here's the how and why:
- When Sales are Down, your competition's Ad Budgets go Down. They act on their fear and stay out of your way.
- Fewer Ads means less competition for all of your ads.
- If You Advertise NOW to Increase Market Share, you'll get new sales-- now and later.
- When the economy rebounds, your market share is increased.
- A 5% gain in market share can equal a 25% income gain in two years.
Let's stop to do some simple math here-- you pay the advertising costs to see a 5% increase in sales during the down economy. When the down economy bounces back, you GET a 25% increase in sales. Seems like a bargain to us... and we aren't alone:
"...a business-to-business (b-to-b) media study conducted by Yankelovich Partners and Harris Interactive. The study showed more than 85 percent of business executives believe advertising during a down economy is extremely important." [Source]
Here's the catch, though-- and I just don't have a better word than weird to describe how 85% believe it's important, but as the chart below shows.... no one actually does it! The short advice: don't be the believer who won't act! NeighborWave helps small business with innovative ads that cut through the clutter. We'll talk with you for free and show you a plan that can take care of you for years-- even a tough year like 2008. Many businesses will reduce their advertising budgets in 2008 just on their expectations. What that clearly means for you is that there will be less advertising competition during a down economy. There will be fewer ads competing with yours. Historically, big business in particular pulls back their advertising dollars in every economic downturn. NeighborWave's Small Business Advertisers can gain some ground especially against larger competitors during this time. In charts, you can watch the line of advertising dollars following the economy quite closely. See for yourself:
Be Smart. Press your advantage while your competition is staying out of the game. If you're interested in reading more on this topic, here's a white paper from a firm that consults for big business. NeighborWave is a privately held small company in Berkeley, California. We help Small Business develop and deliver advertising messages using simple tools like websites with an edit button.