Keeping brand awareness high is important to every business. But whenever an election is called, things go a little strange in the business world. People stop spending, hold their breath and wait. I understand the caution but too much cutting back can be detrimental to your business.
The first thing most businesses cut back on tends to be their advertising and marketing — which leaves the field wide open for those who are savvy enough to keep their brand out there in the marketplace so their customers don’t forget them. Customers not spending? They will return. But…
Who will they buy from when they do?
I’ve written about this before in an old blog post but it’s definitely worth repeating. There’s an old story from the U.S. that demonstrates how one company changed the playing field completely, during one of the toughest times in the 20th century…
During Prohibition in the 1920s, you could only buy alcohol on the black market. But despite them not being able to make any sales at all, there was one company who kept advertising. Johnnie Walker. People laughed and told them that they were wasting their money. But Johnnie Walker just kept on advertising. Of course, the law eventually changed and alcohol was able to be sold again, legally. Once people started buying, guess which brand they bought?
The brand that had been kept top of mind.
Johnnie Walker. Because they didn’t cut or stop their advertising, they’d kept their brand alive and visible which enabled them to get ahead of the others and dominate the market when things turned around. Meanwhile, their competition had to start again from scratch.
So yes, I understand that if times are a bit lean, by all means we need to budget — just make sure you don’t disappear. Find smart ways to keep your brand and your message out there, so that the moment things turn around it will be your name that’s top of mind. And in case you need some assistance coming up with clever ideas that don’t have to cost an arm and a leg, please let me know. I’d love to help you. Karen 🙂 0412 322 982