The best time to step it up is when others are scaling back. When your competition reduces their advertising budget, that is the time for you to increase yours.
Two years ago, after our 9th Edition – we lost 74 of our 365 advertising merchants…a whopping 20%! And it hurt. It was cause for concern but we didn’t freak out. Instead I hired more salespeople, invested in more advertising (did you see our “recession proof” ads on the MTD buses?)
"Recession Proof" bus backs in 2009
and built an entirely new website. The result was the most kick ass program we had ever done – our 10th Edition. And, we had our highest grossing year and our most profitable.
This approach was far from conservative but it wasn’t crazy, it was well thought out and well executed. Our “competition” was losing advertisers and was therefore scaling back. While they we’re moving backwards we moved forwards.
Whatever it is you do for a living, consider that point and recognize that now is the time to stand out! It’s not easy but it’s doable. (& for more on this, read the book The Purple Cow)
This year Axxess is launching an iPhone application. It wasn’t cheap for us to build but we’re committed to adding value to our merchants and to our members and this was another way for us to do that.
We created the Rewards Program, which has really started to take off. Locally there’s nothing like it and again, it’s us stepping it up to deliver more value to you.
These investments have only benefited our company and further separated us from the “competition”, therefore passing the litmus test question of “Hey, where’s the Beef?”
PS – iPhone app coming October, stay tuned.
