The economy is down… I can’t think about marketing now; are you crazy?!?
Nope, but thanks for asking. First off, you’re not alone in feeling that way. But, this is THE time to market, and any savvy investor will agree. Allow me to explain.
Do you know someone who kicks themselves for not buying Real Estate when the economy was down? When the market spiked, property prices doubled and that person COULD have made a very enviable profit for themselves had they just gotten in when the time was right. Most everyone either IS this person, or knows this person. Sound familiar?
The very same principal applies to marketing. When the economy is down, many people view marketing as a “discretionary expense.” What a big mistake! Marketing, when done properly, is neither discretionary nor an expense. Rather, it is a necessary investment.
Think about it like this. Throughout history, the pattern of economics has shown us that the market will always shift. Up and down, over and over. It cannot and will not stay up all the time. So, going into a down time, as the recent fuel price increases have indicated we’re heading for, you KNOW that there will be an upswing. Where will you be when the market comes back? Will you be complaining about how hard it was to go through the rough time, but boy, you’re glad its over, OR laughing all the way to the bank because you invested in your company when the market was down, and now your company is worth more than it ever was?
If you’re thinking of nixing marketing or just “waiting for the economy to come back,” think of the Real Estate example before you do that. How hard will you kick yourself when your business loses out on that generous ROI (return on investment) you COULD have made, had you invested when the time was right?