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Survive Tough Economic Times – Advertise!

How is your small to medium size business expected to survive during these difficult economic times? One word. Advertise! I know what you’re thinking… “What else would Jim suggest”? But it’s true. Every financial and marketing study ever written on the subject reveal that companies which maintain or even increases their marketing efforts during slow economic times are not only able to persevere during the bad times but THRIVE in the good times upon its inevitable return.

How is this possible? Assertive companies that advertise during slow economic times accelerate the increased market share potential by taking advantage of their competitor’s suspended or conservative “wait-and-see” marketing approach. Your business should never be willing to simply forfeit its hard earned position in the marketplace by allowing your competitors the opportunity to catch-up or even worse, erode your hard earned sales and customer base. If so, your competitor will already have the increased awareness and exposure in place when the economy returns to a more favorable condition. In addition, this company will most likely be able to outspend its other competitors now due to the (new) sales it was able to generate in your advertising absence.

As a business owner, an unfortunate reality is that you must constantly keep your company’s name, product or service out in the public eye because you never know when a new (or previous) prospect may be in need of your services. As Michele Pariza Wacek from BusinessKnowHow.com reminds us… “It’s not your target market’s job to remember you. It’s your job to remind them you’re here and would love to have their business”.

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