Should you keep advertising in a downturn?
Lots of uncertainty and objections around whether to keep spending on digital marketing in tough times. Here’s a great article I thought was worth sharing. Takeaways:
- The “noise level” in a brand’s product category can drop when competitors cut back on their ad spend. It also allows for advertisers to re-position a brand or introduce a new product.
- Brands can project to consumers the image of corporate stability during challenging times.
- The cost of advertising drops during recessions. The lower rates create a “buyer’s market” for brands. Studies have shown that direct mail advertising, which can provide greater short-term sales growth, increases during a recession.
- When marketers cut back on their ad spending, the brand loses its “share of mind” with consumers, with the potential of losing current – and possibly future – sales. An increase in “share of voice” typically leads to in an increase in “share of market.” An increase in market share results, with an increase in profits.
Full article here.
Ultimately, more eyeballs are online during this time than ever before as customers look for information amidst all the noise.
How are you facing objections during these uncertain times?
This is fantastic Jackie! Thank you for sharing!
We’re finding clients who have ad and marketing spend during recessions and market downturns grow after the slump passes because of maintained brand equity in the marketplace.
Similar to feel felt found, need to cushion and lower resistance to move forward, here is an Oldie but a Goldie TDMA focused on Google Ads. (Good set of 13 videos to help sell Google Ads as the Trusted Advisor)