How To Win In Times Of Crisis
Updated: Jan 30
Times of crisis seem to be all too common these days. Uncertainty in the economic outlook, divide internally, spreading and possibly evolving pandemic, aid slowly trickling to us (only after so many have fallen), and squabbling children overseeing what's best for our great nation.
With all these factors in play, many individuals and companies are forced to apply severe budget cuts.
Very often it is a public expense, but this is undoubtedly a very dangerous choice for one’s survival. Advertising is not intended as an expense to lose but is a real investment for the future of yourself and your business.
Here are the 3 reasons why you NEVER want to stop investing in advertising amidst a crisis.
Advertising captures attention when done right. Advertising targets the user (your targeted consumers), a number of potential customers, and consolidates in the minds of those already acquired. You can have the best product or service in the world, but if few know this it cannot produce a turnover.
2) COMPETITIVE ADVANTAGE
Companies that advertise generally have a large advantage. Advertising through times of uncertainty, generally 10x that advantage. The saturation of ads your industry sees in more favorable times is reduced dramatically. Meaning the opportunity for your company to generate more awareness, and consumers is prime. Should your product and or service be superior to that of your competitors, it's more than probable you'll also be seeing their loyal consumers bringing that loyalty to your door. If you are not investing in advertising, potential customers do not know who the experts or superior product is, and stay with the competition.
3) THE BEST ADVERTISERS SAY
“Stopping advertising fare to save money is like stopping the clock to save time.” – Henry Ford
“Investing in times of crisis is like putting wings on while everyone is falling” – Steve Jobs
These two quotes are taken from two of the greatest entrepreneurs in history. They have made advertising in times of crisis one of their winning weapons. Today their legacy in Apple and Ford lives on and surely will be seeing this pandemic through. Possibly stronger than years past.
Would you listen to Warren Buffet, if he was to advise you on where to invest your funds throughout this pandemic?
Well, then why not heed these words and get ahead of your completion. Let them give out discounts & freebies, while you seek out a more profitable path.
So what is the solution? The solution is to invest better through more effective marketing tools. Promotonics analyzes the situation and proposes the most suitable tools for your businesses growth.
Advertising is always needed, both in times of crisis and when business seems to be going great.
We must also take advantage of the quieter moments to continue observing a strong presence in the mind of customers and therefore a strategic position in the reference market where there are more and more competitors every day.