To Business Owners in PEC,
We all know one thing for certain: While this is scary, and while we may have a while before things calm down, ultimately, it’s temporary. And that’s at least comforting.
At 99.3 County FM we are so proud of the people, businesses and non-profit organizations of The County, for pulling together in a time of crisis.
Your not-for-profit, volunteer-driven, community radio station appreciates your help in supporting all non-profits and organizations serving The County including 99.3 County FM.
Some companies will use this time to evaluate their marketing decisions, others are actively in need of reaching the public right now.
There may or may not be an economic recession, but regardless, as businesses slow down historically many cut their ad budgets.
We understand the current challenges faced by small businesses.
But it is very helpful to maintain, and even increase, advertising during an economic downturn.
Your advertising during a weak economy can increase sales during and after any slowdown.
Protect the investment in your business.
Advertising helps, and radio is especially efficient.
A study by Nielsen Catalina Solutions says the return on investment for radio advertising is ten dollars for every dollar spent.
When ad spending gets cut, a brand loses its “share of mind” with consumers,
not to mention current and future sales. An increase in “share of voice” leads to an increase in “share of market.” Which will increase profits.
Your competition may reduce or cease advertising.
Using this opportunity to reposition your business can be prosperous.
We’ve seen this before.
During the Great Depression, Post Cereal cut their ad budget while Kellogg’s doubled theirs. Kellogg’s increased their profits by 30% and overtook Post as the leading brand.
In the 1990 recession, Pizza Hut & Taco Bell took advantage of McDonald’s decision to drop its ad budget. As a result, Pizza Hut increased sales 61%, Taco Bell‘s increased by 40% and McDonald’s sales declined 28%.
Harvard Business School in 2009 found that brands who increase advertising when competitors are cutting back, can improve market share and return on investment at lower cost than during good economic times. Uncertain consumers need the reassurance of known brands.
In studies from 1974 & 1975, by American Business Press and Meldrum & Fewsmith, they found “companies which did not cut marketing expenditures experienced higher sales and net income during those years, and the two years following, compared to those companies which made cuts in either or both recession years.”
In McGraw-Hill Research’s look at the 1985 downturn, companies that either maintained or increased their ad budgets during that time experienced a 256 percent increase in sales versus companies that cut their ad budgets!
Your business or brand stays present in the mind of consumers with frequent advertising.
90% of radio listeners in Prince Edward County have listened to 99.3 County FM. Be the first business they think of!
While others are naturally inclined to reduce their ad spending, consistently advertising your business positions you for stable constant growth during and after any possible recession. Customers are more likely to turn to the brands they readily remember when they have money to spend.
Increase Your Voice – Marketing through a recession means there’s not as much “marketing noise,” so you don’t need to shout as loud for your message to be heard.
Keep Existing Clients – Forward Level Marketing 2016 “Your biggest asset during a downturn is your existing customer base. It’s easier, and more cost-effective to retain current clients than it is to win news ones.”
Keep your most loyal clients happy by letting them know you appreciate their business because they are your champions.
Manage Your Message – An analysis of nearly 880 case studies published by the World Advertising Research Centre shows that advertising campaigns that focus on emotional engagement tend to be more profitable than campaigns that focus on rational messages (such as low prices or special offers), even when times are tough.
Remember – that consumers still notice advertisements during an economic downturn; the companies that advertise the most will reap the greatest rewards when the economy turns around.
Stay top of mind with your consumers
Learn more, call or email and we can discuss possible ways to assist you
(613) 476-2229 firstname.lastname@example.org www.993countyfm.ca/advertising
Thank you for advertising with 99.3 County FM – The Voice of The County!