Ask both your clients and prospects: “If we slide into a recession, how will it affect your business.” The answer well likely be: “I will have to do more with less.” That’s what a recession could force on us. We must explain out of home is the Do-More-With-Less medium. Explain to a prospect how you do more with less.
OOH:
- delivers every demographic, psychographic, and target audience for the price of one.
- has 24/7 uninterrupted messaging.
- can hyper-target messages.
- delivers high reach and high frequency at lower cost per thousand ad impressions than any other medium.
- (With digital) delivers real time messaging.
Be out in front of this conversation with your advertisers. Put “Out of Home is the Do-More-With-Less medium” in your email signature, on your proposals and all contract points with clients and prospects. Now when the advertiser is actually faced with that challenge, you own the position in their mind.
Tony Robbins said, “Power goes to those who can recognize patterns.” Throughout history – JP Morgan, JD Rockefeller, Steven Jobs, Bill Gates all recognized patterns and used them to their advantage. In the coming installments, we will talk about recession-based case studies you can use to your advantage to recognize patterns. This should enlighten your advertisers’ minds about what’s possible in a recession.
We have been here before
What general lessons do were learned from past recessions? Maintaining or even increasing ad budgets during a weak economy propels companies to win.
The reasons to advertise in a slowdown are compelling:
- The advertising level in a recession is less. The lower ad competition level means an advertiser has a greater share of total ad voice than when the advertising market is more crowded.
- Advertisers convey to the local marketplace that they are stable. They are in this for the long run. If you’re a local hardware store, a grocery chain, etc., you are here to stay.
- Ad costs may be reduced. Radio and television stations, to combat a recession, will start reducing their ad rates.
- Advertisers that resist cutting their ad spend will increase their share of voice which is the percent of the entire advertising pie they themselves control. The effect will be to increase their market share.
A lot we can learned about what’s happened in past recessions. I’ll cover some insightful case studies in the next installment.
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Order your hard copy or eBook https://billboardinsider.com/the-ultimate-out-of-home-sales-guide/
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