We have all heard it. The tired ole mantra about having to advertise in a recession but then why, when faced with a recession, one of the first things businesses begin to cut back on is marketing and advertising budgets? Contrary to what businesses may think this is the worst possible time to make advertising/marketing cutbacks.
The Numbers Don't Lie
A McGraw-Hill study of 600 businesses found that the businesses that advertised or maintained their advertising campaigns during a recession experienced an increase in sales by 256 percent compared to businesses that cut their advertising budgets. Furthermore these businesses experienced an increase in sales during the recession and in the following three years.
For all companies in a recession it is hard to maintain, let alone, increase your marketing budget. This is even more reason why it is detrimental to get the most return on investment with your marketing budgets. LMS Agency Inc wants companies to be aware of their options and tools that are available to them.
Get Social
According to a new Forrester Research's survey of 145 global interactive marketing companies,
the use of social media as a marketing tool is on the rise. Furthermore, Forrester states that over 50% of marketers will be increasing their spending on social media marketing in near future.
Why Does Social Marketing Work?
There are numerous reasons why Social Marketing Optimization (SMO) works but we have narrowed it down to a few key points:
1. SMO is Measurable: long gone are the days of advertising agencies pushing a $100,000 advertisement in Departures Magazine. Although Departures Magazine boasts some the most sought after audiences how did we really know who was driven by that shiny advertisement to buy your product. Unless someone called and said "Ohhh I love the ad in Departures and it has compelled me to buy an Aston Martin" how does one really know? SMO is completely the opposite. It's the instant ROI that social media delivers that gives it such value. If it generates leads, or conversions, or sales, or something useful --then you can prove it's working. As Procter & Gamble said, the online community beinggirl.com is four times as effective as TV ads. Something like that simply won't get cut in a recession.
2. SMO Tools are Effective Social Marketing tools are designed to carry the voice further than any advertisement impression. If your message appeals to people their word of mouth and/or postings will resonate more effectively and further than any traditional advertisement.
3. SMO Tools are Cost Effective: in the grand scheme of things these tools, when utilized correctly, will bring you the ROI you deserve. While most businesses are seeing the importance of blogging, MySpace, Facebook, and Twitter we encourage these companies to take it a step further and utilize SMO professional management. Having 4,000+ followers is great but if they are not "quality followers" or your sites aren't optimized correctly than the hours of work you sat up tweeting are just a waste of time and efforts. Let LMS Agency put the pieces together for you. We know that every client is different and that each client should have a different marketing campaign. We will put together the pieces of the puzzle and build up your following and in turn your business.
4. SMO Tools Motivate Consumers: SMO does bring awareness but eventually the awareness luster will loose its shine. Fortunately, SMO takes it a step further and by its own nature it drives the consumer. We have all seen it before: Facebook Freeda talks about the great meal she had at Jamaican Joe's down the street. She even posts a recipe that she found on their website. Twitter Tanya sees Mary's post and re-tweets the recipe and makes reservations for her and her husband MySpace Mike...and so the story goes. Consumers in a recession are not going looking to frivolously spend our dollars as some of us don't know where our next dollar is coming from. Therefore if we DO spend our dollars we are going to look to our peers, our friends and family; the SMO sites are merely a vehicle.
We at LMS Agency Inc are not telling you to completely abandon your traditional media rather we are telling you that there are options above and beyond what you thought possible. Don't want to abandon your weekly newspaper placement advertising your latest specials? No problem-LMS Agency's media experts specialize in media placement. Utilizing their services will save you money that you were already spending. Think of us as your super savings broker. We take the price you were already paying for that newspaper, magazine, or online placement and we get you a lower cost. Period. No hidden fees, no agency retainers--just save you money.
The numbers aren't a fluke. They prove there's a reward for companies who are aggressive with their advertising efforts in a recession. The important thing to know is that you are not in it alone. In a bad economy, there are many opportunities to expose your business to potential customers that aren't always available or possible in a good economy. Every one of them can be explored to help you solidify your place in the business world and stand out from your competitors. Let us provide you with the necessary tools, the best marketing stategy and a cutting edge agency so we can help your business thrive in a downward economy.
Leah M Sadowski
CEO
LMS Agency Inc.
619.808.8415
