23 Percent Don’t Know What They Are Doing

It’s another election week in the United States of America.

Monday November 4th is when this article gets published on my website and the audio version is released as episode 353 of the Genuine ScLoHo Media and Marketing podcast.

Because I work in the media, specially for a highly popular news talk radio station WOWO in Fort Wayne, Indiana, I’m very aware of the political world.  Because I also listen and watch other media that presents news and views from a different political perspective, I’m pretty well rounded.

Because I’ve worked in media for a long time, starting as a teenager, but let’s say 30+ years, I’m also aware of the ways and whys media act the way the do.  Not just news but entertainment too.

I’ve now spent 21 years in Fort Wayne media on the sales and advertising business side and every four years some businesses get a little too caught up in political speculation.

Last month a study was released by Borrell Associates pertaining to this.  Here’s a quote from InsideAudioMarketing.com:

A lot is riding on the outcome of what happens on Election Day, and one of the potential impacts will be the advertising market. A survey of local advertisers by Borrell Associates finds that nearly one in four (23%) of small and medium-sized businesses say their advertising and marketing spending will be impacted depending on whether Kamala Harris or Donald Trump wins in November. Another 30% say they aren’t sure, while 47% say they don’t expect ad spending to shift much regardless of the election outcome.

Some of my co-workers have seen this apprehension from their advertising partners about how the outcome of the election will determine the success of their business.

Let’s dig deeper into this article:

Borrell data shows supporters of former President Trump are more likely to alter their spending plans based on the winner. Among Trump supporters, nearly a third (31%) of local businesses say their advertising plans will be modified if their candidate returns to office…However, local business owners who support Vice President Harris are less likely to be influenced. Borrell says only 14% of those in the Harris camp say they will change their marketing plans based on whether she is the winner.

While the impact of the policies that each side will have different potential ramifications for business owners, placing that much emphasis on who the President is to determine your ad spend is stupid and ignorant for small and medium sized businesses.

If your business produces a good product or service and uses advertising and marketing correctly, none of this political stuff matters that much.

What do I mean by correctly?  Advertising is simple.  It’s just inviting potential customers to spend their money with you.

If you slow down or stop inviting people to your business and coast for awhile, your business will decline.  Because you can only coast downhill.

When I titled this 23 Percent Don’t Know What They Are Doing, that refers to the one out of four or five businesses that are placing too much emphasis on political outcomes this week and instead should focus on what they can do to improve their company and invite more people to become their customers.

I’ve lived through the financial hiccups of 2008 and saw smart business people surviving while those that were scared shut down.

Or maybe they weren’t smart, they were just stubbornly determined to keep doing the right thing and they pushed forward while others dropped out and as the saying goes, the strong survive.

One more bit of info from that article:

The top three issues facing small businesses, according to Borrell’s survey, are the cost of labor, mentioned by 40% of those surveyed, followed by the cost of technology (39%), hiring and attracting new employees (31%), taxes (28%), and keeping up with technology (18%).

Valid points.

Still you need customers so please continue to invite us.