ISSUE AT HAND: DOWNSIZE MARKETING BUDGET IN A DOWN MARKET?
PUBLICIST GOES ON RECORD WITH VIEWS TO STAYING RELEVANT,
CAPTURING MARKET SHARE
November 2012 (Phoenix, Arizona) To market or not to market, that is the question – and the quandary. In a down-market such as ours, it’s generally the owner’s first instincts to cut the marketing budget, but is this a smart business choice? What is the benefit of downsizing your marketing in a down market? What will happen to your business while you wait for the economy to turn around?
When the market slows and sales drop, it’s not uncommon for owners to look for ways to cut their costs. Lauren Rosenberg, a 15-year veteran Valley publicist offers her perspective for business owners who choose to downsize their marketing in a down market. Public Relations (aka Publicity, Marketing, Event Planning, Advertising) is commonly the first expense to be slashed, because it has an immediate impact to the bottom line.
“In reality, an ongoing Public Relations campaign will keep your business in the public eye. Therefore, cutting all PR out of your business budget should be the last and final resort to trimming your expenses,” states Rosenberg. “A proper public relations campaign will not only keep you ahead of your competition, but it’s also your opportunity to stay relevant in the minds of your customers.” If a company is not being properly marketed, it will likely fall away to its competitor. Therefore, it’s best to maintain a consistent PR effort rather than cutting it out entirely.
During a recession the same principle holds true for business marketing as it does in real estate: The best time to capture the market share is during a recession. Rosenberg continues, “Businesses who keep themselves in the forefront of the public, even in times of a recession, will be the company their current or future customers will think of when needing their services.”
Rosenberg recommends that instead of suspending marketing efforts entirely, the better recourse is to reduce their marketing costs. By reducing rather than suspending, when the market turns around companies will have a far better edge and a dominant presence over their competitors.
ABOUT LAUREN ROSENBERG
Lauren Rosenberg of LRPR – Lauren Rosenberg Public Relations is a highly qualified public relations firm based in Scottsdale, Arizona and Santa Monica, California. Now in its 15th year, LRPR has become very well known because LRPR gets the job done on time, within budget and exceedingly well executed.
Rosenberg has been responsible for securing over 50 front-page stories in print media for her clients, as well as 100’s of television appearances. LRPR public relations strategies encompass marketing campaigns designed to deliver a large amount of publicity for clients in top-ranking electronic and print media. Rosenberg has consistently represented the best in business-to-consumer, business-to-business, and in categories including hospitality, medical, retail, literary, entertainment, automotive, construction, art, sports, online and other professions.
A Scottsdale native, Rosenberg grew up working at her father’s 5th Avenue and Marshall Way store, Serendipity, and her mother’s interior design/retail business, Rosenberg’s Furniture Gallery.
LRPR website: LRPR.com
(602) 826-5777 (LRPR) Scottsdale
(310) 393-9114 Santa Monica