Why Businesses Should INCREASE Marketing Efforts in Tough Times

We’re starting to hear the buzz:

“I can’t afford to advertise this year.”

“The economy is tough.”

“It was a rough season.”

Boy, do we feel the fear and pain of these small business owners.  Owning your own business is one of the hardest jobs out there.  You’re chief cook and bottle washer, jack of all trades, spending much of your day doing things you never knew even needed to be done, and you only meant to open a cute little shop and do the things you love to do, maybe gain some free time to spend with your family along the way.

And so, when times get tough, we all want to put a clamp on the ‘ole pocketbook, shaving off expenses, keeping overhead as low as possible, hoping to ride out the storm.  It’s exactly the kind of smart thinking and action that has saved our home budgets time and time again.

I’ve got bad news, friends.  The quickest road to business bankruptcy in a struggling economy is to sit on your hands, do nothing, and wait for things to improve.

We’re not advocating throwing a ton of money at a shotgun approach to marketing.  We’re certainly not suggesting that you ramp up your advertising efforts.  There are definitely marketing tools that work better in tough times and those that work better in a fat market.  Smart, targeted, research-supported marketing works.  Now is NOT the time to pull back on your marketing plan.  Now is the time to ratchet it up.

Whether business is good or business is slow, you’ve got to get your share of the business that is out there and that means telling the world why you’re different or special.  Your approach to telling the world might be more refined in tough economic times but if you stop putting yourself in front of your customer in a way that makes you stand out, the guy who does will earn your share of the pie.

So, my question to you is, “Are you the guy grabbing the pie or the guy who is giving his share away?”