Phoenix, AZ, September 20, 2009 --(PR.com
)-- The dip in the economy has not been good for any industry. Or has it? The poor economic state has had a positive impact on companies who want to continue to advertise throughout the recession. Many advertisers have had to cut their marketing budgets in half, which has forced magazines to drop down their advertising rates to meet their quota each month.
It is no secret that companies that continue to advertise during a recession, come out of the dilemma with increased market share, higher sales growth and brand loyalty. A study conducted by McGraw-Hill found that businesses that maintained or increased their ad budget averaged higher sales growth during the recession in the following 3 years. Also, those companies increased market share 2 ½ times the average for all business in the post-recession.
Due to this trend, Global Media Minds implemented a last minute opportunity program in which client’s can use their print media services to obtain 70-90% off rate card in consumer focused magazines. “The last minute opportunity program has allowed our clients to spread their marketing budgets further and to get into publications that normally would be unattainable,” President of Global Media Minds, Kristen Orton said. “Continuing to advertise during a recession, really gives you leverage for when the economy starts to pick up again.”
“The last minute opportunity program organically developed when a well-known cosmetic company that we had been working with received a dramatic cut in their marketing budget,” Kristen Orton said. “They turned to us for answers on how to continue to stay in front of consumers at a fraction of the price. We figured out that we had already determined their demographic and the publications that worked the best for them and we were receiving last minute opportunities from these publications every week. With the program, the company was able to maintain the same exposure at 50% of the cost.”
The program has now opened up to all potential companies who want to stay in front of the consumer eye at a fraction of the cost.