At a time when it seems everyone is cutting back their spending, businesses are doing the same with their advertising budgets. It becomes all too easy for a business to cut back or even stop advertising altogether. But studies have shown that a slow economy may be the best time to advertise.

Businesses that continue to advertise regardless of the economic climate have a competitive advantage over businesses that trim their ad budgets, according to a media study conducted by Yankelovich Partners and Harris Interactive. The study showed more than 85 percent of business executives believe advertising during a down economy is extremely important.

An astute business owner can look at the economy as an opportunity and use the economy to gain market share from other businesses. Even during a slow economy, there are still consumers out there. That’s why a business needs to make sure that they are the first ones thought of when a consumer is ready to buy. As the economy begins to improve, the businesses that have consistently branded themselves will be the market leaders.

Business experts agree that advertising is crucial during a slow economy to survive.

"Advertising in a down economy is even more important than advertising during the good times," says Joyce Gioia, president of the Herman Group, a firm of strategic business futurists in Greensboro, N.C. "That’s when you can build market share. That’s when you have less competition for share of mind. While others are in a cocoon, hibernating until things blow over, it’s a great time to invest in your business." Gioia says halting advertising during tough times is counteractive.

So the key is how to best advertise during a slow economy and get the most short-term and long-term benefit. The easy answer is coupon advertising.

Coupon advertising is a proven advertising method when the economy slows down. Consumers are motivated by a good deal and will take advantage of the deal before it is gone. Coupons create a stream of new business and returning business.

Advertising Age recently reported that 87% of all shoppers use coupons. The Marketing Research Firm, A.C. Nielson Co., reports that 95% of all shoppers like coupons and 60% actively look for coupons.

The benefits of consistent coupon advertising are great for both consumers and businesses. For the consumer, coupons provide opportunities, options and much-needed saving of their money. For the business, coupons introduce services and products to new customers and give past customers a reason to come back. Plus, customers are likely to buy other products or services.

No matter what the economy does it is always important to advertise. Without advertising consumers quickly forget about your business. Without business there is no business.

For information on advertising in theSFVnews or any of our other products contact Charles Beris at (818) 435-4281 or email him at Charles.Beris@theSFV.com