There is much speculation out there about how our economy is actually doing and where it will be in the coming months and years to come. As a small business owner, i myself have kept a close eye on this to ensure that Wold Creative Group will not only survive but thrive within these financially tenuous times. 

As with all economic shifts, there are two sides to the coin. When some companies are struggling, others are booming. Is this just industry specific? I think that has something to do with it but the companies that are booming right now also know that this is a time of opportunity. 

With some organizations cutting back their spending on advertising or marketing strategies because they think that will save their company some money, other organizations are able to create waves within their industry through advertising and marketing strategies. Cutting back on marketing to save money is often a fallacy due to the fact that it only saves money at present but certainly hurts the potential future revenue stream. As some say, “stepping over dollars to pick up pennies”. 

I am not advocating spending a bunch of money on advertising or marketing, rather, keep on spending something, anything, on advertising and marketing. In addition, i am also advocating to spend your money wisely and not put your advertising dollars in one area (publication, medium, campaign). Keeping up or starting to have a presence within your industry during the time where other organizations may be cutting back is a win-win situation and should allow you to get a leg-up on the competition. In other words, your dollars spent on advertising or marketing will go farther and do more within our economic climate. 

The current state of the economy can be an opportunity for your organization to stand out and get noticed. All you have to do is to make sure that your brand is still out there and wisely placed.

-jeremy

This entry was posted on Saturday, August 23rd, 2008 at 11:46 am and is filed under ad, brand, marketing, messaging, print, television, tip, web. You can leave a response, or trackback from your own site.