So you read or heard the news the other day (and I use the term “news” loosely) – the US is in a recession and has been since December of ’07. I’m so glad there’s a group of academics poised to tell us such things!
More helpful is the advice from Knowledge@Wharton via Forbes.com: Now is not the time to slash your ad budget! This harkens back to what I’ve preached for some time (see my Oct 15 post) but it is very hard for most small business owners to buy into. It takes particular intestinal fortitude this season, but this is precisely when it has the potential to pay off the most while all your small-business-owner friends are paralyzed into thinking their marketing spend is the easiest place to cut!
Can you use the same ads you’ve been running for the past year? Possibly not. You may need to recast and reposition into something more aggressive, something unusual, that speaks to your market where it is now. Does that mean to reflect the general gloom being peddled by the media? Not at all! Take a swing at seeing the opportunity in the current situation! Check out this article for some strategies for your segment and type of product and service.
And get creative!