Business gone quiet?
Why now’s the time to get your voice heard.
Businesses with advertising budgets tend to hold back from advertising at the start of the year. On the one hand, it’s natural to exercise caution, when perceptions are that customers aren’t spending. But on the other hand, is it short-sighted?
As a Voice Over Artist, I’m acutely aware of and affected by the peaks and troughs in clients’ advertising spend, with much of my work focused on performing voiceovers for Commercials, Corporate Presentations and Online Videos.
Sometimes, especially in smaller businesses, marketing budgets are seen as a luxury, a nice-to-have, once materials, premises, staff and earning a bit of income is paid for. In downtimes, the decision to spend money on a new radio campaign or creating a new corporate video can be a tough one. Best to hold tight, protect revenues, not take any risks – after all, we all know there’s no guarantees when it comes to advertising.
But one thing that is guaranteed, is that not advertising will certainly not yield any benefits. Not advertising will not make the phone start ringing. Not advertising will not result in engaging with your audience, leading to potential sales.
Advertising is an investment. And it’s likely to have a pay off in bringing in enquiries, getting the business mojo back, and building up revenue again.
Keep calm and keep steady
There is another camp of advertising behaviour. The camp who irresponsibly spend, spend, spend, on high profile campaigns when behind the scenes, the bills can’t be paid – the business equivalent of a government trying to spend its way out of a recession – and failing. Or those who market frantically in a downturn, then pull all external advertising once they are busy, leaving themselves vulnerable once contracts dry up and there’s no business left in the pipeline.
The point is, you’re better off with an annual marketing strategy which takes account of any seasonal aspects of your business but keeps spend manageable, planned and expected.
If you’re a Managing Director, or responsible for advertising and marketing budgets, consider these five reasons to keep your advertising going through the winter slump;
- 1. If business is quiet, the one thing you might have more of, is TIME. For once, you have time to rethink your branding. Time to concentrate on a great campaign. Time to find the best professionals to help you. And time to negotiate some good rates. The other good news is that in quieter times, your potential customer has more time to listen to you. To pay attention to your radio or web commercial. To peruse your online corporate video.
- 2. Not all advertising spend needs to cost a fortune. Updating or creating a new corporate or promotional video may be a small investment but can be spread far and wide on social media – a highly cost-effective marketing channel, as well as hosted on your own website for free. At quiet times of year, the media are also quiet. Some great deals on radio and TV spots may be up for grabs.
- 3. If your industry is quiet, and you’re the one who is speaking out – you’re the one who will be heard. Your business will be the go-to place once potential customers are ready to buy again.
- 4. Advertising is not just about lead generation and revenue. It’s about profile, attention, engagement, PR and branding. This involves keeping a constant presence and is exactly why successful big brands never stop advertising or become complacent about their buyers. Just think of Coca Cola. Okay, they have a bigger budget than you. But they are one of the biggest, most recognisable brands in the world. And they never stop advertising, which is what keeps them in that position.
- 5. For any business owner, a slump in business can result in a slump in confidence. Taking positive steps like working up a new campaign, updating your corporate video, getting a web commercial or radio advert out, will give you a renewed focus and energy.
Brexit, Schmexit
Perhaps you’re holding off advertising because of the B-word. Brexit has a lot of businesses, across the world let alone the UK, feeling very nervous. But is being nervous a good reason to hold back from advertising? Letting customers know you’re still there will reassure them, connect them with your brand and encourage sales, helping you through uncertain economic times.
So keep your advertising going, even if it feels like going against the grain. Your business deserves a voice – keep it loud, make it heard and it will be worth the investment. And if you need a voice for your promotional video or commercial, you know where to come!