In a downturn market it is very easy to think that we should go out into the back yard and dig up the stash we were saving for a big advertising campaign. However I believe that in the market we are in today, that would prove futile. I am a huge believer in community. I do not believe in hit or miss marketing. Huge newspaper and yellowpage ads are the way of the past. Watch this video; Gary V does a great job of illustrating my point.
Good post. Great video. I run most of the advertising for the company I work for and people have been saying for years that print advertising is going the way of the Dodo; especially for listing product inventory!
Many companies in the Sacramento Area, most especially real estate firms, have pulled out of most print media. This is true for companies across the nation. Do a Google News search for “print advertising” and you will find hundreds of articles on the struggles and failings of print advertisers to stay afloat.
I work in the Real Estate industry and the challenge that we have in moving completely away from print advertising (which we’re nearing completion) is that some folks who ask us to advertise and sell their home see newspaper advertising as going hand-in-hand with real estate advertising, even though most of our customers admittedly don’t even read the newspaper much less look for homes there! Why would they when someone can go online now and find photos and information galore on properties compared to the three lines of text.
If you’ve been a major player in advertising your inventory with print and have an investment or contract you’re locked into, consider doing institutional advertising that will bolster your brand.