by Denise on September 11, 2009
Though it seems to make sense to cut expenditures in lean economic times, 80 years of data proves that cutting marketing to save money is a losing proposition.
Way back in 1927, the Harvard Business Review published a report tracking 200 companies from the 1923 recession on. The results were clear. The companies that didn’t cut back on marketing - those that advertised the most during that period - enjoyed the biggest sales increases.
Another later study measuring the effects of business-to-business advertising looked closely at the recessions of 1949, 1954, 1958 and 1961. In these tough times, sales and profits dropped for companies that reduced their advertising. In addition, when the recovery came about (as it always will) those same companies lagged behind those that did NOT cut back.
That was proven again by McGraw-Hill Research when examining the financial performance of 600 companies in 16 industries during the recession of 1981-1982. The report, published in Laboratory of Advertising Report 5262, showed that sales for companies which aggressively marketed during the recession rose 256% over those that cut back - and stayed growing for up to three years AFTER the economic downturn.
A Cahners Publishing Company study in 1980 and a Center for Research and Development study in 1990 both concluded that those companies which maintain or increase their advertising during recessionary times stand to gain the most market share during that period (an average of 1.5 points.)
Coopers & Lybrand and Business Science International put it this way in their joint report published by Penton Media in 1993: “Businesses that maintain aggressive marketing programs during a recession, outperform companies that rely more on cost cutting measures. A strong marketing program enables a firm to solidify its customer base, take business away from less aggressive competitors, and position itself for future growth during the recovery.”
There is a book of such research findings entitled Advertising in a Recession by Bernard Ryan, Jr., published in 1999. But these examples will probably suffice to tell the story.
The word “recession” has its origins in the Latin for “move backward.” In an economic recession, when those around them “move backward,” smart marketers do just the opposite. They STEP FORWARD.
BBlackwood
Longtime creative director and marketer
Free resources for marketers on a limited budget at my blog: Smart Marketing on Any Budget
http://www.smartmarketing4.me/
by Denise on July 29, 2009
Small Business Branding is something many business owners put to one side yet done properly it can bring untold benefits.
From big brands to small, from corporate brands to personal branding - it’s the brand that’s the key. Although the name of your business and your logo on your business card and letterhead are part of branding, it is much more than that.
Branding is about lots of little things adding up to a tipping point where amazing things can happen. Branding is about the feeling you create in your customer. We may not like the idea and feeling and emotions drive our behaviour. Subtle though they may be. To help get you started, here are 5 critical things you need to do to brand your small business:
1) Have a Professionally Designed Website and Logo
When it comes to marketing and brand recall, a unique logo and well designed website work best. Search the net and find sites that are either your direct competitors, or are in your industry. Take note of what you like and don’t like. When you find a site that really knocks your socks off, that’s the designer you want to build your site. Oftentimes there will be a link to the designer somewhere on the home page. If not, a query to the site owner will get you the contact info.
2) Your Domain Name Should Be your Website Name
Naming a site after its domain name is important, for the simple reason that when people think of your website, they’ll think of it by name. That’s what they’ll first try in their browser. It is also the easiest thing for them to remember, and whatever that is easily remembered, will be more likely to be tried out than an obscure domain name.
3) Optimise your Website Using Search Engine Optimisation
The easiest way to increase your organic search results are making sure your site has plenty of keywords. Use a keyword as part of your domain name, or if that isn’t possible, at least put them as part of the title of your site.
Incoming links from authoritative sites also boost your page rankings. You can get these by asking for a reciprocal link, or writing a comment on a blog or forum and including a link back to your site. Make sure your comment adds to the discussion and isn’t just a half-hearted attempt to get a free link.
4) Make Sure your Advertising Represents You in a Professional Way
As a small business owner, you don’t have a marketing department that generates new ideas to help grow your business. As a way around this, find a good business or marketing consultant who is willing to become part of your marketing team.
They will take the time and energy to research and cull through the thousands of promotional products and ideas available and suggest the very specific ones that best represent you, your business, and your goals.They will help you “communicate” your brand to your desired target audience
5) Maximize your Logo, Minimize your Ego
Pepsi and Nike already have the brand recognition where they can spend their marketing dollars on “ego advertising”. As a small business owner, there’s no room for ego. Your marketing efforts should be used to tell prospective clients who you are, what you have to offer, and where to find you. One of the best ways to do this is hand out promotional products that look good, have a high-perceived value and are useful to your client.
While there are many things involved with branding your small business, these simple steps should get you started, are not too expensive to implement and will greatly impact your business.
This article is by www.Mangobaypromotions.com
To You and Your Businerss Success
Denise and Sharon
