Make Your Advertising Budget Excel in a Bad Economy

Article Contributed by Dave Thomas

As a small business owner, you know the economy is reeling.

So, how can you still get your message out to current and potential customers without breaking the bank when it comes to your advertising budget?

For too many small business owners, a bad economy leads them to reel in the ad budget, therefore leaving them to miss out on a number of sales opportunities.

Given that your goal is a strong return on investment, you need to consider increasing your advertising efforts and not decreasing them when times are tough. Think about it – your competition is probably also considering cutting back on its advertising efforts – so now is the time to strike.

Approach to Success

For the small business owner, the best approach to success is working with your advertising/marketing team to zero in on the best messages to reach your target audience.

If you already have a strong audience in certain sectors of the market, take the opportunity when the economy is bad to go after new segments. Remember, consumers are looking to save money when times are tough, so you have the potential to open new doors where your products and/or services can save some people money. In turn, you have potentially lined up a new customer/s that will bring you a good ROI over time.

Another aspect to where increasing your advertising efforts in a bad economy can help your small business is focusing in on the different demographics that you serve.

Take for instance senior citizens. In many cases, seniors will cut back on buying during tough financial times, yet they still are in need of products and services. While your competition may have cut back on advertising to seniors, here is your chance to reach out to them and demonstrate how you can assist them with deals and coupons, saving them money in the process, along with building up a relationship with them.

Another factor to consider in ramping up your advertising efforts is when you unveil a money-saving product.
While the first inclination is cut back the spending on advertising when times are tough, how then will anyone know about your value laden offerings? By increasing the amount of money spent on advertising, you bring attention to the money-saving product and how it can save customers money. Again, this can prove a winning situation for your small business.

Lastly, while your small business is looking to save money through its advertising efforts, keep in mind that those charging for ads could have some deals available.

Whether you are doing traditional print newspaper or magazine ads, online banner ads, billboard advertising etc. companies specializing in advertising are also likely looking to cut deals in order to keep or get your business. The bottom line – negotiate as much as possible.

Remember, when times are tough, there are various chances to expose your small business to new customers that are not always there when the economy is rolling along.

Make it so your small business can excel and reap the benefits.

Gainesville Title Loans specializes in providing auto title loans for Gainesville, Florida and the surrounding areas. If you need quick cash then Gainesville Title Loan can help!

About the Author
Dave Thomas writes extensively for www.business.com an online resource destination for businesses of all sizes to research, find, and compare the products and services they need to run their businesses.