Geoff Wilson / Digital Marketing / October 27th, 2008

When Times Get Tough, It's Time To Market!

I got a semi-spam email today promoting some marketing company’s services.  I suspect times are tough for them, because many businesses are pulling back on their ad budgets as the economy worsens.  At 352 Media Group, we have seen a little belt tightening by our clients, but thankfully most are still wanting to go full speed ahead.

The marketing company was sending these semi-spam emails to try to convince business owners to market with them during these slow times.  Their point was that now is actually the best time to market.  They are absolutely correct.  Given the number of businesses pulling back on marketing and spending right now, it is easier now to gain market share than ever before.  And if you properly utilize the many Web marketing tools and techniques available today, you can seize market share very cost effectively.

Here are a few paraphrased paragraphs from their pitch:

Companies that out marketed and outsold their competition during slow times emerge from the recession with increased market shares and better long term profitability.   Studies in September 2008 by the Marketing Planning Institute, Mc Grawhill and Nielsen show that Marketing Investments are more critical in gaining market share during the downturn rather than when business is good.

Great companies attack the market place in a downturn. They carefully spend marketing dollars on online activities where cost of customer acquisition is much lower.  During tough times, great companies deploy counter intuitive strategies to gain new customers and expand to global markets and expand market share. Pushing off new campaigns or reducing marketing is a sure shot way to ride your business to the bottom of the totem pole. This is the time to make the investment in to growth while most others are cutting costs.

All very true.  Now is the time to seize the market!  And of course, call us so we can help!  🙂