I suppose there’s no denying it now. We’re in a recession and that light at the end of the tunnel? Well, you know what that is.

Our government officials who are trying to manage the economy are simply and utterly i-n-c-o-m-p-e-t-e-n-t. Government cannot manage the economy, as much as its leaders think they can. It’s just too big and diverse. Those people would be exhausted managing just one business let alone the biggest economy in the world.

In fact, it is government’s prior mismanagement that caused the problems in the first place. Government officials were the ones who required banks to make bad loans. Why would we task the same fools to fix it? They don’t know what they are doing. They never understood economics and they will probably make it worse than it has to be. Maybe a lot worse.

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So what is a business to do if it wants to survive and isn’t on a first-name basis with Treasury Secretary Hank Paulson?

When income is tight, many businesses are tempted to pull back on their advertising. But this is a mistake. The changing business climate actually offers the aggressive marketer rare and exceptional opportunities. While your competitors are hunkering down and hoping to survive until the next customer wanders in the door, you can buttress your advertising and dominate the market. Once that dominance is established, your competitors will be climbing uphill even when they resume their normal advertising.

Another opportunity lies in the loss of advertising revenue by the media. These days media are more amenable to giving you more for your dollar. Instead of trying to get lower advertising rates, try negotiating for what more you can get. Media has the time and space to sell but they will resist deals that reduce their income. 

Now — while your competitors are hiding under the porch or ducking bill collectors — is the time for you to campaign hard and cement your name in customers’ minds.

All media have methods to measure effectiveness and track campaigns for value. Use those resources intensively. Keep in mind that advertising has a cumulative effect. It’s value increases with each exposure.

Experts say in a recession, advertising should minimize polishing your brand and hit hard on specific transactions or sales.

The less distance between you and the customer, the more successful your promotions will be. For example, if you want to sell Golden brand digital widgets, don’t spend a lot of money building the image of Golden Co. Instead, push the virtues of the widgets and drive for immediate sales of units.

Integrate your advertising so that offline and online campaigns compliment and boost each other.

The smart businesses, the aggressive businesses, will increase advertising in a recession. They will have less competition for their customer’s attention and become more visible for the same money.

Statistics show that businesses that maintain their advertising are better able to survive an economic downturn than those that pull in their horns and wait for the sun to shine again.

Remember the old saying, you can’t save yourself rich. Saving on advertising budgets is false economy for businesses that hope to be thriving when the storm has passed.

 Contact Lionel Waxman at territorial@waxmanmedia.com or visit his website: www.waxmanmedia.com. Lionel Waxman’s Flashpoint commentaries are published in The Daily Territorial.