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Marilyn Monroe
Member
| Joined: | Fri Sep 23rd, 2005 |
| Location: | Ontario Canada |
| Posts: | 230 |
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Posted: Tue Jul 1st, 2008 07:42 pm |
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“It is true that people are spending less. It’s also true that business owners, due to that observation, are marketing less. Well, take advantage of that! If you market more you will pull in the business instead of those others that aren’t marketing,” advises David Olgivy, author of Olgivy on Advertising. “What should you do in time of recession, when you need every penny to sustain your earnings? Stop advertising? If you stop advertising a brand that is still in its introductory phase, you will probably kill it – forever. Studies of the last six recessions have demonstrated that companies which do not cut back their advertising budgets achieve greater increases in profit than companies which do cut back,” he says.
“There is a consequential effect that marketing has on your business one, two, three years and more down the line if you don’t market during a recession. And while the cost of living increases along with inflation and other factors, you will be losing sales and income down the road when you will really need it if you cut back on marketing during times of recession. But as I say, even though unfortunately, companies will invariably cut their advertising budget during a recession so be smarter and use that to your advantage – for more business and growth now as well as in the future, because if you do you will come way out ahead when the recession starts to wane,” Olgivy maintains.
“In a Morril survey of 40,000 men and women involved in the purchase of 23 industrial products over five years, it was found that share-of-market went up in bad times - when advertising was continued,” Olgivy says. He goes on to source the American Business Press that had pie charts of sales of companies that cut back their advertising expenditure during the 1974-1975 recessions compared with companies that did not cut back. The companies that did not cut their advertising budgets had more than doubled their sales two years later while sales from the companies that cut their advertising had barely gone up 50 percent. Three years later sales were down for companies that had cut their advertising while it was up for those that did not. The net income for these companies also followed the same suit over the same period of years – those companies that did not cut their advertising had more than tripled in sales, while companies that did cut back during the recession had barely doubled.
Says Joy Gendusa, “At my company, PostcardMania, [of which she’s CEO] we are definitely being hit by all the business owners that feel they had better cut back on their marketing due to the economy. Don’t misunderstand; we are still growing and doing great but our growth has slowed slightly. And that growth is harder won these days.
“It’s at these times you have to be smarter. You have to market smarter and reach higher quantities of people with your marketing message. Your return on investment may be lower and you may earn less per dollar spent on marketing. But think this through … if you cut back on your advertising you will undoubtedly have less business coming in. Operating that way, now look a year down the road … how’s your business doing? Scary.
“However, if you increase your advertising and marketing budget and your competition is cutting back what will happen? Look a year into the future on this one too … what do you think will happen? Who will get the business?
Gain customers, don’t close down
Look at what the big boys are doing. Are they cutting back on their marketing? Some are, but will regret it. But certainly not all. Witness your own mailbox - you don’t have to do a hard search for this data. Bed Bath & Beyond, Crate&Barrel and JC Penney, even AARP is marketing heavily. Read the March 2008 issue of Fortune Small Business magazine article, ‘Slump Busters,’ where you can meet business owners who have devised smart strategies to prosper amid the economic slowdown. In the article, Villanova School of Business professor John Pearce II, made an interesting observation: ‘Recessions are a period of opportunity; during recessions large companies abandon marginally profitable customers, and small businesses can get those customers.’
“Capitalize on that and gain those customers by marketing. You have to look at the long-term future in order to ride the recession wave and come out on top.
“You can go into agreement with the thousands of small business owners and cut back on your marketing and you can get smaller and possibly even close down. You can do that. Or you can emulate the companies that are surviving and growing. It’s up to you really. Personally, I refuse to be dictated to by the economy. I have plans! I will invest in myself, my own smarts, my own persistence, my own perseverance, my company, my staff, their futures and on and on.
“Giving up, shrinking, for me is not an option. It shouldn’t be for you either.”
Originally posted by "The Headhunter" on another site.
MM (Deb) 
The only true hydrating water
http://www.debbiedegrande.com
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Kurt Henninger
Member
| Joined: | Wed Jun 11th, 2008 |
| Location: | USA |
| Posts: | 41 |
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Posted: Wed Jul 2nd, 2008 05:51 am |
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I would say that indeed to continue marketing in down times. For two reasons:
1) People are looking for a way to augment their income. MLMs are a great way to do that from home.
2) You really get a great sense of reward by helping people out and training them when they need a little extra $$.
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bellabuddy
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| Joined: | Sat Feb 25th, 2006 |
| Location: | USA |
| Posts: | 68 |
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Posted: Wed Jul 2nd, 2008 12:58 pm |
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The reality is that you will get a bigger response and people will respond to methods that don't work that well when times are good.
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mlmwealthangel
Member
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Posted: Thu Jul 3rd, 2008 05:06 pm |
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To keep marketing is definitely the key. But the big guys know that even when things are "slow" there are people who still need what you have. In fact, most of your target audience still needs you, it's just that they might not have the money right then to buy from you.
But if business owners continue to push through the slow times, when things pick up, your customers will be there ready to buy!
Thanks so much for that post. We all need a little refresher from time to time!
To your success,
Tracey
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DrBobClarke
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| Joined: | Fri Jun 27th, 2008 |
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| Posts: | 2 |
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Posted: Tue Jul 15th, 2008 12:30 am |
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I agree to keep marketing during down times such as these.
I also believe that social marketing is especially important during these times. People want to know the person they are potentially joining as a partner, and that their money is not going to be wasted.
This is especially true if money is tight.
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sames1
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| Joined: | Tue Aug 12th, 2008 |
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| Posts: | 8 |
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Posted: Wed Aug 13th, 2008 03:04 am |
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| Good post. Yes.. never stop marketing especially in downturns.
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XanGo-Paul
Member
| Joined: | Tue Aug 12th, 2008 |
| Location: | California USA |
| Posts: | 16 |
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Posted: Wed Aug 13th, 2008 04:08 am |
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I've heard that recessions are actually really good for mlm companies because it causes people to want to look for new income sources. People become worried about being laid off and start thinking a backup plan would be good to have. I think an MLM recession is when the times are good for the rest of the economy. So now is really the time we should all be really marketing heavily because this is a good time for us as MLMers
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Marilyn Monroe
Member
| Joined: | Fri Sep 23rd, 2005 |
| Location: | Ontario Canada |
| Posts: | 230 |
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Posted: Wed Aug 13th, 2008 04:57 pm |
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Good replies everyone!
Its true AND here is some more GOOD NEWS!
People are hurting in this economy. Gas prices are going up and the cost of living is skyrocketing.
Summer is almost over and the kids will be back in school.
Parents will be looking to make extra money aftter spending money on the kids, vacations etc...during the summer.
This is JUST IN TIME FOR "PRIME TIME" RECRUITING SEASON TO BEGIN!!
In September!!! 
Good news indeed!
Deb
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mmikovich
Member
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Posted: Mon Aug 18th, 2008 05:35 am |
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Great topic, Keep Filling the pipelines. I make videos,blogs,articles,press releases,ads an all sorts of thing especially now when it is slow but when September comes around,it will be time to rock and roll.
People are back from vacation,kids back at school and people sit in front of that computer,looking for ways to makee extra income. I am just filling my pipelines in, so when they are looking in Seeptember,they will see me  Mike
Last edited on Mon Aug 18th, 2008 05:36 am by mmikovich
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sox1n05
Member
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Posted: Mon Aug 18th, 2008 12:54 pm |
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| I would agree. People are more inclined to look for ways to supplement their income in the economic downturn. I have seen a spike actually in business during the last 4 months. I am directly attributing it to the slow economy.
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mlmblonde
Member
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Posted: Sun Aug 24th, 2008 11:03 pm |
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Recession? NOT....I am not participating in that.
In times like these, there is more opportunity than ever, in that people are looking for ways to earn added income. My business is literally booming, I'm noticing many people come looking for our business.
IF you have a reasonable product, that helps others, and saves them time and money, You should do very well.
Don't buy into the news media. 90% of everything out there that they put out is negative, Let's all go out and make a difference.
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timflowers
Member
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Posted: Tue Sep 2nd, 2008 04:13 am |
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Hi Diane,
You're right, as always! Now is the time to market more heavily than ever. When money is tight, people begin looking for new sources of income. It's a great opportunity for network marketers!
Tim Flowers
Greensboro NC USA
Last edited on Tue Sep 2nd, 2008 04:14 am by timflowers
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Home Business
Member
| Joined: | Tue Sep 2nd, 2008 |
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| Posts: | 1 |
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Posted: Tue Sep 2nd, 2008 09:09 am |
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Marketing should be seen as an investment, not a cost. Time and again I have seen companies cut marketing and they get into a spiral of cutting costs and that leads to a lower presence in the market, revenue and profit margins decline, that puts more pressure on costs and the spiral continues.
Work At Home-Home based business,Work At Home business,Earn Money From Home,Work From Home,Online Business
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jasonb25
Member
| Joined: | Mon Feb 11th, 2008 |
| Location: | Australia |
| Posts: | 22 |
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Posted: Wed Sep 3rd, 2008 07:52 am |
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The last 4 months have been the time when you sow your seeds. It's now time to watch them grow.
Continue to build and work on your online business no matter what , if you do this then you will be the one standing there waiting when the heard come back.
Jason
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roguedomains.com
Member
| Joined: | Thu Sep 4th, 2008 |
| Location: | USA |
| Posts: | 6 |
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Posted: Thu Sep 4th, 2008 05:09 am |
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Great article, Deb! 
Marketing is a cornerstone of any business, and while it is prudent to re-evaluate the return on investment that you are receiving from your various marketing efforts, "packing in" your advertising or blindly slashing your marketing budget is a huge mistake that will affect you for years to come.
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VacationGal
Member
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Posted: Thu Sep 4th, 2008 12:31 pm |
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Hello everyone,
I have been involved in several different businesses over 25 years. My present online business is travel, but I am also a licensed real estate agent full time today. Advertising yourself and putting yourself in the eyes of consumers in something you must do each and everyday in business. No matter what it is that you do, it is a must! The truth is, people are busy in their own lives and forget that you are in the business you are in. They must be reminded. A great idea that has always helped me is sending out emails atleast once a week to your list with some sort of helpful hint to possibly help make their lives easier. There are newsletters with helpful information that you can send out. Consumers will open and read these type of emails and remember you. If you sell vitamins, attach an article about the benefits. If you sell travel, attach a flyer with a promotional sale. Whatever you do, send something that will enrich their lives and they will remember you.
VacationGal
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