Wise Startup Blog

The stock market has hit an all-time low, so we all know that advertising is pulled in a down economy.So how do you sell advertising in a down economy? Advertising can be the key factor in turning around a failing economy, so why aren’t people buying?

As most advertisers know, during a recession the first line-item to get cut is the marketing budget, however, as we also know, advertising is the most important factor in helping companies pull out of a down economy.

So what do we do when our clients are telling us they aren’t advertising …because it’s a down economy? Advertising is never easy to sell, especially in a down economy, but there are sales tips and tricks you can use.

Advertising in a Down Economy

1. Perfect Opportunity to Build Market Share

So your client is telling you they don’t want to buy advertising because the market is bad and they have no funds. Considering the majority of their competitors most likely have also pulled their advertising, the economic downturn is the perfect opportunity to gain market share.

If their competitors are pulling out of advertising, this is the perfect time for your clients to put their name out their and build new clients.

2. During a Down Economy You Don’t Have to Raise Your Voice to Be Heard

When the economy is poor, there are going to be less players advertising. Any advertising your client does will have a bigger impact because there will be less noise in the marketplace. Where previously they would need the ‘premium’ option, perhaps during the down economy, they can get the same effectiveness with a ‘standard’ package.

The goal for your client is to buy something from you, if the economy is bad, don’t expect them to pull out all stops. Get them to buy something small from you this year, and next year renew for a bigger package.

3. Show You’re Strong Through Good Times and Bad

For customers looking to buy services from your clients, they want to know that their supplier is someone they can depend on and will be there through good times and bad.

Your clients should be encouraged to maintain advertising during good and bad times to show that they’re a company that can withstand any economic conditions, and thus worth doing business with.

Advertising is about consistency, and being always present. Customers may not want to buy today, but if you’re the first company that comes to mind, then you’re going to get that sale, …eventually.

4. Maintaining Share of Mind is Cheaper Than Rebuilding

Say your client doesn’t advertise during this bad economy. Their customers are going to forget about them, so if they don’t advertise this year, they’re going to have to spend even MORE money next year to remind customers they’re still around and relevant.

If they were to advertise during a down year, they could spend less money and maintain their share of mind. It’s easier to keep the customers you have than get new customers, and you should explain to your clients that this will save them money, and you can always encourage them to renew next year with a larger package as well.

Can You Sell Advertising In A Down Economy?

Are you hearing this objection a lot? Are you able to overcome it? What has been working for you when you’re told that the economy is the reason clients don’t want to buy advertising?

Is it possible to sell advertising in a down economy? Should you cut back on your goals and expectations or just look into different markets for new clients? Is it possible to sell advertising in a down economy?

Remember, keeping confidence is key. You can always sell advertising, even in a down economy. Businesses may be tempted to cut advertising when the economy is down, and it’s your job to sell that advertising and help your clients and the economy recover.

Please share your wisdom and experience in the comments below.