3 Reasons Why You Should Never Stop Advertising
Back in the 1920s, Kellogg’s was losing the dry cereal battle to their rival, Post. As The Great Depression became a harsh reality for Americans, Post decided to cut their advertising budget by more than half. Meanwhile, Kellogg’s doubled their advertising spend during the recession and grew their revenue by over 30%. Fast forward ahead 100 years and very little has changed. Advertising through thick and thin is the best way to build a sustainable and recognizable business in the community.
It builds stronger customer relationships.
It’s important to engage and stay top-of-mind with your target audience at all times. Consumers never stop buying products and services, so you shouldn’t stop catering to them and their needs in your messaging. By staying in front of your ideal audience regardless of the economic climate, your customers will continue to spread word-of-mouth awareness in their circle and generate buzz for you when you need it most.
It could grow your market share.
Ad spending in the United States dropped by more than 13% during the 2008 economic recession. Millions of businesses hit the brakes on advertising and stopped sharing their message with consumers. This opened up phenomenal opportunities for businesses who continued to advertise. In a normally crowded and noisy environment of brand messaging, the companies who made an effort to stay in front of their audience filled the unsaturated market with new and innovative ideas. While it may seem smart to cut spending during challenging times in areas like advertising, it’s actually one of the best ways to position your business ahead of the competition long-term.
It boosts authority.
Communication is key in every aspect of business, and advertising is no different. By sharing your brand consistently and repeatedly, it tells consumers you aren’t going anywhere regardless of the environment at that time. This engagement will help your business become a more trustworthy brand amongst consumers and allow you to become a leader in your local business community while boosting your authority and loyalty.
These are just a few reasons why you should never stop advertising. In fact, many examples such as the one in our intro point to the opposite. Placing an emphasis on advertising during the most difficult times can actually do amazing things for your business in the long haul. Build stronger relationships, grow your market share and boost your authority by branding your business through it all.
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