Times are tough, or so we are told. I prefer to think of the current business climate as the greatest opportunity you have as a business to gain market share on your competition.
Most managers weren’t around for the last re re re recession. That word is hard to say for most of us that survived it, maybe even prospered through it.
In good times loyalty is only questioned in business relationships if you do something wrong. In tough times everyone is looking for an edge and many business relationships come under the closest scrutiny.
So opportunity exists right now, and when there is opportunity you have to be out there communicating with your target market not hiding away and bunkering down.
But, I hear you say “we have to cut the advertising budget by 10%, 20% or maybe even 30%”.
Work out exactly how much you are prepared to invest on advertising and building your reputation and the return you are expecting from it. The return you get from advertising is in direct proportion to the thought and planning you put into it.
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