Advertising In A Down Economy

Currently, I have found that since opening my own business, I constantly, whether consciously or not, tap into the lessons I learned while I was at college. Whether it was a lesson being taught in art class, a theory being explained in a science class or an approach to a new idea being heralded by a professor in philosophy class.

You see, at the college I attended we were required to take classes that our educators felt would round out our learning experience. Along with my art classes I was required to take courses in math, science, literature and even public speaking. I guess they foresaw the day designers, taking on the dual role of account rep and lead artist, would have to make presentations to rooms full of people.

One such required class was Advertising - Its Role In Modern Marketing. Many of the theories and practices taught in this class have become second nature to me since I have been involved in the design field for over 12 years now. But one comment the professor made has stuck with me for a very long time and stands out amongst everything else that had been taught.

"When faced with a tough economy, the first thing to go will be marketing and advertising."

It should come as no surprise that the ensuing lecture dealt with why advertising plays a key role in a company's success no matter what the financial climate might be. At the time, I was a young designer on the utmost bottom rung of a corporate ladder. I took in all the professor had to say, but honestly never thought it would matter much to me since at the time I had positively no say on how, why or when marketing campaigns got implemented or how budgets should be set and followed.

Oh hindsight, you are what they say, 20/20?

The danger posed by the current market slowdown is how a company will react. Stopping advertising in effect will stop stimulating the demand for your products. And if you are someone in charge of marketing and promotions, it is hard to effectively communicate to those in charge of setting the budget and available resources that cutting back could be detrimental.

Yet, the key to surviving is to continue advertising and to stay present. But maybe it won't be in the same ways that had proven effective in the past. Consumers are adjusting where and how they spend their money and companies need to consider these options and compensate accordingly. By being prominent and keeping current with your advertising, companies can gain advantages over their competitors who are less willing to be as aggressive with their marketing. Studies have shown that companies who cut back on advertising during recessions lose their momentum and report slower growth sales after the recession.

With good, sound, promotional tools, advertising can play a key role in a company's success in bad times just as well as it does in good times. Being visible in a time of economic unease can translate to your consumer base that you are dependable and have the resolve to be there for them.

There are always many options available to a company for advertising (or marketing). Now is the time to explore how your current consumers are buying and how to identify new prospects. With a wide range of options available, Madcow Designs can help you find the right mix for your audience...print ads, site ads, direct mail, email, blogs, webcasts, digital signage, tradeshows, even a simple thank you note can become a new outlet for you to get your name out there and help retain your staying power.

Whatever the direction your advertising takes, Madcow Designs can help you along the way.