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The Importance of Advertising in a Bad Economy
The Magazine Industry is being crippled by lost revenue as advertisers pull ads, or simply do not renew programs. In a tough economic environment, businesses are prone to initiate cutting costs, and usually the advertising budget is one of the first things to go. However, a series of ongoing studies conducted by American Business Media show this may not be a good strategy.
According to American Business Media, history has shown companies who either steadily continued or aggressively increased their advertising efforts in times of tough economic uncertainty:
• Experienced overall growth of their businesses at the expense of their competitors that cut their advertising budgets.
• Experienced continual growth past the period of economic uncertainty and they gained a stronger position in their market and in the eyes of buyers.
It's only natural for businesses to look to cut costs during recesssionary periods, however, the panic of uncertainty creates opportunity for those willing to stay the course. Simply remind your customers and prospects of these facts and convince them that advertising in your publication is best for their business. Not only will you continue to receive revenue now, but in the future, you will have a stronger and grateful customer.
The information presented in this article is just a sampling of the materials available through American Business Media. Visit their webiste at www.americanbusinessmedia.com to learn more.