When economic times get tough, traditionally advertising gets cut. Marketing is cut back and public relations departments get slimmer.
With advertising dollars at a premium and staffing at a minimum, what kind of messages are appropriate and which garner the most results for the money?
Strategies vary. While some companies have not changed their advertising message, many are incorporating the economic problems right into the advertising message.
Who is Advertising?
Companies like Apple Computer’s iPhone, University of Phoenix, Hewlett Packard, and Audi are still buying full-page ads in The Wall Street Journal, The New York Times and Fortune Magazine and are using the same promotional messages as in 2008 highlighting value, features, and getting your money’s worth.
Companies such as Coca-Cola and PepsiCo are still broadcasting Super Bowl Sunday television ads. While other companies such as FedEx Corp and General Motors decided not to purchase the million dollar slots this year.
Advertising Messages
What about companies that do not have the millions of dollars that the big guys such as Apple and IBM typically budget for promotions and advertising? What kind of advertising message can local businesses use to attract the most customers for the least amount of outlay?
Advertisers need to continue to ask where is the customer and what is the best way to reach them -- radio, television, the Internet or print? Then determine the best message to reach the customer in 2009. The message may well be the same as it was in 2008; for some sectors the message has to change with the times.
Tie the Message to the Economic Times
Car dealers in the northeast Ohio area are using the language and feelings of the economic times to reach buyers. One car dealer used repo overflow to promote used car sales. Another used economic stimulus package deals and was giving back $500 in cash as part of the stimulus package.
Yet another car dealer offered their customers a bailout plan with up to $4,000 extra for trade-ins. Kia advertised a 2 for 1 deal. Buy a Kia van and get a Kia SUV for free.
All of these messages were on local radio stations, on local television and were in print ads in regional and local newspapers.
Speedway gas stations are promoting a 99-cent cup of coffee over the $4.00 cup from competitors with unique television commercials. Gasoline sales may be down but Speedway is finding a message to appeal to consumers to increase sales in other areas.
Advertising Tactics and Processes Stay the Same – Just the Message Has Changed
Companies that are planning to continue to advertise (either the same amount or less than in 2008) need to stay with the general practices of determining who the ideal customer is, where they are, what is the best venue to reach them and what kind of message do those customers want to hear.
If the customer is within a certain income range or they work for industries such as banking or housing, promoting high-priced luxury vacations will not be the message those customers want to listen to at this time.
Find the message today that will reach the consumer and build the advertising around that message and the ways to deliver that message.
Advertising and Promotions to Help Those in Economic Distress
While companies want the most return for their advertising dollar, consumers want the most product for their hard earned and shrinking income.
Does the ad for two cars for one price deal sound enticing? You bet it does. Will such a deal help the average consumer? You bet it will.
Find the message to fit the times and customers will respond to advertising even in the worst of economic times.
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