A man who stops advertising to save money is like a man who stops a clock to save time - BUT WHY?

“A man who stops advertising to save money is like a man who stops a clock to save time.” is a popular saying - but WHY? Summarizing - ANGLING TRADE's article here   The WHY =

Communications is key:

  1. Out of sight…out of mind, and out of mind can mean out of business. Familiarity breed preference, and preference leads to long term customer loyalty. 
  2. Marketing Never Stops. If you stop your marketing, you are wasting the brand equity you have built so far. This is not a start and then stop process. 
  3. Reinforce evidence of product performance. When a consumer makes a budget cut…you don’t want to end up on the cutting room floor. This is exactly the time you need to turn up the volume. 
  4. Your competition is hiding: right now you can have a larger share of mind. 
Now is the time you need the business! When the economy is weak, your business will only get weaker without marketing. It is a vicious cycle: 

Attitudes are shifting: 
  1. Customers are hunting. People are looking for value and meaning. Thus while they are hunting and evaluating, you need to be out there marketing and not hiding behind your desk. 
  2. What was important yesterday may not be so important in today’s environment. That can spell new opportunities for your product or service. 
  3. Re-position the competition and make your brand more relevant for the next 12 months of economic hardship? 

It is not only Harry Ford that does this contrarian thing. While others go into the panic mode, Warren Buffett goes into the shopping mode. While others are into a cut and run mode, the smart money looks for marketing opportunities.

So are you cutting or are you investing your marketing budget?