Tuesday, February 17, 2009

Business sense

The economy continues to struggle, to say the least.

The newspaper industry continues to struggle, to say the least.

Did somebody say, Catch 22?

Talking with our advertising sales representatives this morning, I kept hearing about local business decision makers trimming their advertising budgets, often before anything else.

Big mistake, in my view, and not just because advertising revenue is a newspaper's lifeblood.

If you're in business, you want to attract customers. If you want to attract customers, most businesses must advertise. If you don't advertise and you don't attract customers, you make less money. Rocket science this isn't.

Advertising makes good business sense. Advertising rates generally are as good as they've ever been (or will ever be). You must keep your business - its name, goods, services and prices - in front of the public on a regular basis, otherwise you run the risk of being an afterthought (or no thought at all).

Don't advertise with a newspaper (or radio station or anyplace else) because you like the people who work there. This isn't charity, it's business. Advertise because it works.

You have to spend money to make money. Heard that before? It's true.

Mr. and Mrs. Businessman, make good decisions for your business. It's easy to earn money in good times. It's much more difficult in times like those we're currently experiencing.

Those who make smart decisions will emerge healthy. Those who don't make smart decisions may not emerge at all.
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