Time to Gain Market Share

By Ross Rademacher

Well, the Federal Reserve has finally come around to thinking like Montana’s own economists. Just last month the Fed said it appears that the U.S. economy has halted the longest period of decline since the Great Depression, although it cautioned that economic activity is likely to remain weak in the near term.

Larry Swanson of the O’Connor Center for the Rocky Mountain West thinks that many of Montana's current woes are psychological rather than economical. People tend to listen to the gloomy outlook in other parts of the country, but he feels things are much better here than elsewhere. Not that times aren't tough, "It's going to be a difficult year in Montana, no doubt about it," stated Swanson last spring. And in a statement earlier this year Paul Polzin of the University of Montana echoed Governor Schweitzer’s stance when he said, “We've been searching for realistic doomsday scenarios, and we just can't find any.”

Of course the recession has had an effect on local businesses; no one has emerged unscathed. Our clients tell us that sales are generally at 2004-2005 levels. Not great, but not a disaster. Through it all, one fact is abundantly clear. Even if you’ve never had to actively market your business in the past, now you do. And the top reason you have to market? To gain market share.
We know that when the market recovers, which it is sure to do, businesses that have gained market share will thrive and prosper. You will be light years beyond the competition by spending your advertising budget wisely today.

According to Forbes.com just last month, the affluent consumer is tired of economizing and ready to spend again. They’re patting themselves on the back for surviving the worst of the recession and ready to reward themselves. From a marketing standpoint, we see an opportunity to reach out to existing and potential customers that you can’t afford to miss.

Now is the time to gain market share, the only way that this can be done is to market your business. Time to Advertise, Advertise, Advertise….