Why is it most business owners do all the wrong things when tough times hit? It’s almost like they have a death wish.
Think about it. What’s the one thing you must have enough of…plenty of…even more of during a recession? I’m not talking about money. I’m not talking about time. The correct answer is—customers. It’s customers that offer their money to spend with you. Customers keep your employees employed. Customers pay your bills and keep your banker happy. Customers help you afford a vacation…find time to relax…and send your kids to college. Customers—more customers—will help you weather the recession.
But what typically happens when times get tough? Usually the first thing that gets cut, or totally eliminated, is that misunderstood, abused, and otherwise dirty word—
Advertising. That’s easy to cut. You know—“We have to cut expenses somewhere.” And since advertising isn’t really doing what we think it should anyway….let’s save some money.
Imagine having a party…better yet, let’s make it really big and have a wedding. A day to share with hundreds of family and friends. A big dinner…a dance…huge reception. But, in order to do all this, “we have to cut expenses somewhere. I know…we can save by not sending invitations.” How dumb would that be? You’d have to be a total moron to follow through with that plan. No invitations equals no guests at your party. Bad idea.
See any parallel here? If no invitations equals no guests at your party, then not sending invitations to consumers (a.k.a. advertising) equals no customers in your store. And no customers in your store means no future for your business.
What to do? Make sure your advertising is communicating the proper message…to the right people…often enough to be remembered. Make sure every other part of your business is in tip-top shape, as well. Are you really offering the customer a better shopping experience? Is your service really better? Do your employees really treat the customers better? Are you truly filling an existing need better than anyone else in your market? Is your business really firing on all cylinders? Be honest with yourself. Fix the mistakes. Invite customers to do business with you. Maybe you need to increase your advertising budget. The opportunities are out there. Are you going to take advantage of them?
One of two things will absolutely happen. You will either get better and grow your business, or, you’ll get worse and kill it. What’s your pleasure?
Van is vice president of Marketing Firepower with decades of experience in helping small business succeed through the effective use of advertising.
