How businesses can use this epidemic as an opportunity
“When times are good you should advertise. When times are bad you MUST advertise.”
You might ask why? It seems like common sense if you advertise when everyone else stops marketing…
1. Your message is more likely to stand out because of fewer ads in the market.
2. Your business is more likely to be remembered when everyone starts advertising again.
History shows that expanding your advertising the right way in an economic slow down will impact your business positively...
McGraw-Hill Research analyzed 600 B2B companies and found that those who maintained or increased advertising grew significantly … both during the recession and the following three years.
In fact, by 1985, sales of companies that advertised aggressively had grown 275% over those that didn’t!
1990’s – A MarketSense study showed brands like Jif and Kraft Salad Dressing experienced sales growth of 57% and 70% respectively after increasing their advertising during the recession.
During the Great Depression, Coca Cola doubled sales in the first year because they kept advertising when their competitors didn’t...Makes you wonder whether that was the reason why they are the behemoth they are today…
So what’s this mean for small business owners during the next slowdown?
Well, we are blessed to have Facebook™️ and Google as advertising platforms. We don’t need big budgets to run expensive campaigns. We can test small and get it right before we scale up.
With 15 million Australians using Facebook™️ (over 60% of the population) and more than 94% of all searches in Australia being on Google, when you use the right targeting with the right message, you’re almost guaranteed to increase your lead flow and/or your online sales...
Use this time as an opportunity.
The famous billionaire, Warren Buffet, once said “Be fearful when others are greedy, and greedy when others are fearful.” Yet every time you KNOW you should be greedy, you’re fearful instead. And this fear is not like any other - it’s paralysing, all consuming, and feels like a dark shadow is following you everywhere. But Warren Buffet, at 89 years old, still joyously wanders around with a skip in his step. ESPECIALLY during times like this. How is that? Well Warren knows one thing many do not… That when others are fearful, and crisis strikes, opportunity is born, wearing a cloak and disguised as a hideous beast.
Most do not see it. People stop spending. Companies go out of business and everything slows down. Which not only creates opportunity for Warren, but us as online entrepreneurs. When businesses are too afraid to invest in growth, advertising and marketing… Advertising costs will drop and competition will begin to die (or perhaps even you…) Which makes NOW the time to prepare. Those who are preparing now will be the ones to capitalise when the opportunity comes. And they will be the ones who grow and prosper as a result.
Start planning now for how you can use this time to your advantage. More people will be staying at home which means more people will be on their devices using their social media channels and searching the web.
We've put contigencies in place for all our customers and have created forward thinking plans on how to take advantage of this opportuinty. If you want to understand more on how to do this for your business or need help then get in contact with us here: https://www.happyhippomedia.com/contact-us
Hopefully this read inspired you and let you see there is light at the start, middle and end of this tunnel.