MAINTAINING ADVERTISING DURING TOUGH TIMES CAN RAISE:
- VISIBILITY – When competitors reduce advertising, there’s less media noise.
- MARKET SHARE – You can move past close competitors or further dominate the market by increasing share.
- TOP-OF-MIND AWARENESS – Customers remember you
- THE LEVEL OF CUSTOMER DIALOGUE – Informed customers are more loyal.
- SERVICE DELIVERY – Added sales bring added service opportunities.
During an economic downturn, you need to fight for every sale out there which is exactly what advertising does. Slashing your advertising budget is like putting less gas in your car and expecting to go farther. Advertising aggressively during a recession not only increases sales but also increases profits in both the short and long run. Companies that increased advertising during an economic downturn increased market share an average of 1.5 percentage points. Recessions by definition are temporary. Great companies don’t abandon their growth strategies, they attack aggressively, while everyone else is pulling back.