Now’s the time to increase
advertising and business!
Should we just listen to all of the doom and gloom rhetoric that we are bombarded with from the media? Or are we up to the challenge of pressing forward with aggressive advertising and marketing to not only get us through this present economic crisis, but by so doing, position us well to thrive and prosper when the recession finally comes to an end, as it surely must.
In a recession, you need to make smart money decisions. Dropping prices and slashing advertising budgets are two of the worst decisions you can make. New car sales are down dramatically. Motorists are obviously keeping their vehicles longer than they would if times were good. The opportunities for anyone in the automotive service and repair business have never been better.
These same opportunities exist for automotive parts suppliers and manufacturers that sell products to those in the retail service and repair sector. Now is the time for anyone in the automotive aftermarket, whether they be wholesaler or retailer, to keep telling prospective customers you have a great product and can provide great service.
John A.Quelch, a professor at the Harvard Business School notes that a recession is not a good excuse to cut back on advertising. “It is well documented that brands that increase advertising during a recession, when competitors are cutting back, can improve market share and return-on-investment at lower cost than during good economic times.”
An aggressive approach to advertising will pay dividends early and even more once the economy bounces back. Now is not the time to throw in the white flag of surrender.
In closing, may I say that we are pleased to welcome the Atlantic Provinces Trucking Association and the Canadian Carwash Association as regular contributors to our magazine. These very successful associations represent significant segments of the automotive industry and we look forward to sharing their editorial contributions with our readers. .
More in the print addition of Auto Atlantic. Get your free subscription here.