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Don’t Minimize…Capitalize
The biggest mistake that some businesses are making in these rough times is cutting their marketing budget. If you’re one of those people who make excuses for why business is struggling, you are missing a prime opportunity to succeed. Creativity can make up for a low budget. You don’t have to spend a ton of money on advertising, for example, when a well-written advertorial can work just as well -- if not better. Come up with a catchy new benefit-laden slogan that will pique readers’ curiosity. Or, take advantage of the world that you are living in by positioning yourself to be interviewed or quoted on a topic in which you have expertise.
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Communication
Although everyone has heard the statistic that 40 percent of the current workforce will retire in the next fifteen years, it’s important to understand that corporations aren’t necessarily aging. They are becoming multigenerational. In ten years the average age of many corporations will be lower than it is today. We are in a new age of business. Though the average age of the workforce is currently going up, companies are seeing a surge in younger workers. It is very likely that, in the future, many companies will have 3 or more distinct generations working together.
So how does this impact your business?
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Publicity vs. PR
Although most people don’t see it, there is a distinct difference between publicity and PR. While publicity achieves notoriety through accumulated press exposure, PR capitalizes on human nature. Publicity is getting a message to a mass audience, while PR is having the audience listen, understand and want more. These are essential in the business world and every business needs both.
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Playing The Odds
100 percent of the people who don't know about you won't use you.It sounds simple and obvious, but it's a lesson that many companies still haven't learned. There's a popular thought that in these tough economic times, advertising and public relations are luxuries that just can't be afforded. Wrong! This couldn't be further from the truth. Advertising isn't an expense - it's an investment in the future of your business. These are the times in which advertising is more important then ever. In fact, a series of six studies show that advertising consistently during recessions not only increases sales but increases profits.
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