Advertising needs time and most of all, money. You know for a fact that in order for you to market effectively, you need to invest your resources to the project, be it color printing ads or commercials. Expert marketers would even tell you that to get better results, you need to increase your ads in terms of your spending efforts.
However, for the most of us, increasing your advertising budget may not be the best option considering that you’re a small business operating on a limited budget. Add to that the current situation is not too good as the economy begins to shrink.
So when do you suppose is the right time to advertise?
There’s a study that says otherwise. New research shows that an increased spending on your ads when the economy is low can be vital in your success. If you wait until the economy shrinks, you have a better chance of generating more sales for your products and services.
According to the study, when spending on advertising is high during a healthy economy, you risk the chance of losing your target clients to your competitors. Why? Because too much spending on your marketing campaigns during a great economy boosts a consumer’s responsiveness to the type of product you are offering rather than your company. Too much advertising makes it appear that your target clients need the product and that anywhere they can get the same benefits. So where does that leave you?
When the research was going on, the members of the group also found out that that advertising can greatly help a business grow in terms of the financial aspect. This is true from start of the business until the third year for all the respondents in the study. And it was confirmed that when these companies increased their marketing efforts during downtimes, it reflected that they were able to get more benefits than when they do it during the time that the economy was healthy.
They deduced that the reason for this is that advertising provides that positive light during times of depression. In fact, it helps build confidence among clients and investors alike that the situation is not too tough after all that business owners are willing to spend even their limited budget.
The bottom line of the research is that businesses should maintain their efforts to advertise even at times of adversity. They maintain that in order for you maximize your spending during these bad times you have to be at it at a steady pace. You need to regularly market to ensure that you get your market share of what’s left of the economy.