For most businesses, times are tough and sales are down. The need to cut costs makes a lot of sense. One line item that usually tops the list of expenses to be reduced or eliminated is advertising. Many experts agree that advertising dollars should be viewed as an investment for long and short term gain, not an expense. No matter your view on advertising, before you chop your marketing dollars consider the following.
- Media feels the pinch too - Television, radio, newspapers and online media outlets are all feeling the pinch of a slowed economy. This means that there are good deals to be had for advertisers and they are ready to barter.
- Consumers are shopping for service, connivance, and price -To make their income go further, consumers are spending more time comparing prices and services before making a decision. The internet makes finding the best deal a powerful tool for consumers and a great way for your business to reach them.
- Get a foot up on your competitors - As your competitors reduce overhead on their advertising, it provides you with an opportunity to improve branding and increase market share at reduced costs. When you use your barter company to offset these cost your competitors will be chasing you trying to figure it out; while they are watching their customers walk in your door.
- Be creative - Review your in-house marketing plans and budgets. Make sure you are getting the most bang for your buck. Shop around and ask lots of question. Sometimes the best deal isn't the cheapest. Look into free resources such as The Reno-Sparks Local Business Co-op http://www.livelocalrenosparks.com/.
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