Consider this well-known marketing quote:
“When times are good you should advertise. When times are bad you must advertise.”
Ten months after the first coronavirus lockdown in the UK, 2021 has begun with us in the grip of a new one, with infection rates soaring and many businesses wondering how much more they can take.
In times of crisis, it’s natural for business owners to consider ways to save costs. Perhaps cutting the marketing budget is one of the first ideas to come to mind. Yet this is usually counterproductive. It could even mean missing an opportunity.
Time and again, studies have shown economic downturns to be among the best times for businesses to promote their services and grow.
Four compelling reasons to continue marketing:
- You can be the one to stand out when the level of noise drops in your marketplace as others cut their marketing spend.
- Being seen and heard can increase your market share leading to higher profits.
- Being visible demonstrates strength and stability, inspiring confidence in your business during uncertain times.
- Staying at the forefront of consumers’ minds makes it more likely they turn to you when they are ready to buy.
So, don’t be shy. People out there still need your business. Make sure you stay in front of your target customers by showing them how buying your products or services will improve their lives.
Since the start of the pandemic, there has been surge in consumers seeking to support local businesses. Advertising in local magazines is a great way to reach those interested people to let them know you serve their community.
For more information request the RG10 Media Pack.
For some creative inspiration, see examples of successful pandemic-era marketing in this article by The Institute of Practitioners in Advertising.
Perhaps you’d like to improve your marketing skills and achieve better results? Tanya Gaffon of Distinktiv offers a fantastic course you can follow at your own pace – for details see Market Smarter. The course aims to help business owners put the foundations of a marketing strategy in place before thinking about the marketing tactics and tools needed to deploy it.