How to Market Through a Slowdown to End up on Top!
Love what you do, attract the right people, grow your business. Even in this economic slowdown. I completely understand that seeing it in a Ted Talk and applying it to your business can seem more like an episode of Game of Thrones than a regular day at work.
I am an account manager for 97.7 ROCK and Rogers Digital marketing in Grande Prairie and have been with this cutting edge Rogers company for over 10 years.
I have the pleasure of working with lots of Grande Prairie businesses on their marketing plans. I have seen the sacrifices business owners have had to make over the past two years. When times are tough it means every dollar spent on your marketing just HAS to work. In a downturn it can seem as if the advertising you’re doing is not giving you enough ROI, but studies have shown there are astronomical positive long-term effects to maintaining momentum in your advertising plan.
The bad news is: The pool of consumers wanting your goods or services have shrunk or they are spending less.
The good news is: There are fewer companies marketing to those consumers. Some of your competitors have cut back on advertising. This gives you an opportunity to gain even more than your fair share of the market.
Here is one example from the worst recession of all time…
In 1929 (The Great Depression) Post® did the predictable thing – cut back on advertising.
Kellogg’s® doubled their advertising spending and aggressively marketed their new cereal Rice Krispies.
In 1933 the economy had tanked completely and Kellogg’s® profits were up nearly 30%.
By the end of the great depression Kellogg’s® had become dominant player and remains so to this day.
Post® has never regained what it lost.
Consistent, frequent and creative marketing is the key to getting through the remaining days of this slowdown and maintaining your business’ sense of corporate stability. Which turns into revenue now and most importantly down the line.
97.7 Rock | #200, 9835-101 Avenue Grande Prairie
780-539-9700 | www.977rock.ca