Do you have the guts?

The main point of this article is a slowdown in business represents a huge opportunity. A business that has the guts and the resources can capture a larger share of the market. When business slows most managers start looking at how they can cut expenses to match the reduction in cash flow. These cuts are typically made in advertising and sales. If you buck the trend and maintain or increase your advertising while your competition is cutting back you will capture a larger share of the market.

All advertising works; however, all advertising is not created equal. When you’re working to dominate your market you want to increase top-of-mind awareness. You want people to think of your business first when they are ready to purchase your product or service. Making a sale today is important, but you’re not just focused on today. You want to make an impression on the potential customer who may buy next week, next month or even next year.

Radio does the best job of creating top-of-mind awareness. If you read a newspaper and you’re not in the market for a particular product, you won’t even notice the ad. It’s virtually invisible. Likewise, you may not be paying much attention to a radio commercial if you’re not ready to buy the product that’s being offered. The difference is that you’re still being influence by what you hear. Think about it. Even if you’re not paying close attention you’re still hearing part of the ad.

Everyone agrees that word of mouth is the best form of advertising. Radio is controlled word of mouth. A carefully crafted radio message allows you to control the message, the voice inflection and the emotion delivered. You can also control who hears your message and to a certain degree, how many times your message is heard by your prospective customer. 

There is always a direct relationship between risk and reward. The reward is obviously an increase in market share. This is your opportunity to get a bigger piece of the pie. The risk lies in the fact that the expenditure for this aggressive advertising program will exceed the return on investment until the market expands. Once the market grows you’ll start to reap the rewards of your efforts.

I can help you design and implement an effective advertising and marketing plan that will give you a greater share of the market. Do you have the guts and the resources to commit to making it happen? Please give me a call and we’ll sit down and discuss in detail what it will take.