Whenever there is a down market the first knee jerk reaction for business owners is to cut spending but cutting marketing & advertising budgets may be the worst thing you can do. It has been shown in research time and time again that companies that maintain and/or increase their marketing efforts during a recession not only gain market share during the recession but significantly increase sales and profits for the years following.
Shannon Kavanaugh offers a great overview of some of the recession data as it relates to marketing.
So, where do you want to be in 2010 or 2011? Scrambling to get back in the game or a shining star on top? It is currently a reality that top agents and taking more of the market share and average agents are falling to the wayside....don't let yourself fall to the wayside.
As small business owners we need to not only think of our business with regards to today but remember to realize the impact of our decisions on tomorrow. Don't get caught up in the hype of the slow market by cutting back on expenses and on the actions that got you where you were in the first place. It is time to step up when others are stepping back and seize the marketing & business opportunities that are out there.
Cheers!
Julz Brown
Cincinnati Real Estate
Comments (7)Subscribe to CommentsComment