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Go Big or Go Home

Even in a bad economy, one truth about marketing stands: you have to spend more to make more.

A few days ago, I spoke at a luncheon with approximately 500 local business leaders. I began with these words: "I have good news and bad news. The good news is you will have fewer competitors next year because many of your competitors will be out of business. The bad news is you might be one of those out of business."

I then showed them my local newspaper, pointing to the headline "Businesses Are Struggling." I opened the newspaper and said, "I can tell you who will be in business." I pointed to a full-page ad for a local appliance store. "I'll bet money that this business will be here next year. Why? Because this business is advertising more aggressively than its competition."

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