In the last few months I have answered this question over and over again: “ How do you advertise in a down ecomony?” What do you spend money on, what do you cut? Routinely I tell small business owners to do more, not less. To invest in things which have worked, to spend money more efficiently,but spend money.
In this recession, unlike previous down cycles, small business owners have more choices then ever before. While traditional media is declining, on-line outlets off small business owners better access to the right people. And industry experts expect the shift to online media to continue even after the economy recovers. In a recent study by Forestor Researhers six out of ten marketers surveyed agreed with the statement “we will increase budget for interactive by shifting money away from traditional marketing.”
Their assessment, while all advertising spending will increase, the real winners will be social media and mobile marketing in the next few years. What do you think? Where will you be putting your advertising funds?