When money is tight, what’s the best advice for a company? Spend money on advertising! While some people are surprised at that advice, it’s exactly the right thing to do in most cases. Most leaders pull back from media and marketing during challenging times, but that’s the moment you should be advertising the most, because advertising is about recognition and perception.
During difficult times, your problem is awareness – how do you get people to try the product, open the door, or listen to your message? Obviously quality products and great service matter. But without recognition and awareness, those great products just sit on the shelf, churches sit empty, and service companies don’t get calls.
If you’re struggling financially, be very careful about dumping your advertising budget. That could be the very thing that could get you back on track.