6. Advertising makes you innovate
What is advertising for you?
Innovate the reason to advertise when you see the slump. Tell yourself what it is for you.
A tool to react to competition?
A tool to keep your brand growing?
A tool to keep your buyer informed?
A tool to announce new products? Variants?
If you advertise only because your competition also does and they cut back during recession, you also do it. But remember the competition’s objective may not be yours even if both are in the same category. Pepsi and Coke are selling cola and in the same war but the strategies need not be same. One is the leader and one is the follower. Even if, or to see it the other way round it is better to keep the marketing spending on particularly if your competition has cut it. And in any case the grounds to advertise during the happy season may not be the same to advertise during sluggish times. It has to keep going.
7. Seeing is believing
More so during dull times this rule is applicable. When you are not to be seen, as compared to your omnipresence when the boom was on, you will be seen with suspicion. The brands are friends as well .The friend who disappears during bad times will not be trusted. The customer needs to be constantly told how you are with them and how much you are working to help them by supporting them with cost effective offerings.Imagine a B2b firm who disappears from a trade show that they are part of year after year one year due to recession, just to cut costs. There can be better ideas to save money but one needs to think beyond the obvious. To quote Zyman “If you don’t stay on top of the situation, you will be right back where you started: building the brand from scratch. The logic is simple.
What is advertising for you?
Innovate the reason to advertise when you see the slump. Tell yourself what it is for you.
A tool to react to competition?
A tool to keep your brand growing?
A tool to keep your buyer informed?
A tool to announce new products? Variants?
If you advertise only because your competition also does and they cut back during recession, you also do it. But remember the competition’s objective may not be yours even if both are in the same category. Pepsi and Coke are selling cola and in the same war but the strategies need not be same. One is the leader and one is the follower. Even if, or to see it the other way round it is better to keep the marketing spending on particularly if your competition has cut it. And in any case the grounds to advertise during the happy season may not be the same to advertise during sluggish times. It has to keep going.
7. Seeing is believing
More so during dull times this rule is applicable. When you are not to be seen, as compared to your omnipresence when the boom was on, you will be seen with suspicion. The brands are friends as well .The friend who disappears during bad times will not be trusted. The customer needs to be constantly told how you are with them and how much you are working to help them by supporting them with cost effective offerings.Imagine a B2b firm who disappears from a trade show that they are part of year after year one year due to recession, just to cut costs. There can be better ideas to save money but one needs to think beyond the obvious. To quote Zyman “If you don’t stay on top of the situation, you will be right back where you started: building the brand from scratch. The logic is simple.
8. Advertising is an Investment in Success
Advertising gives you a long-term advantage over competitors who cut back or cancel advertising . A survey of more than 3,000 companies found that advertisers who maintained or expanded advertising over a five-year period saw their sales increase an average of 100 percent, and companies that cut advertising grew at a less than half the rate of those who advertised steadily.Competition is competition pre recession, during recession and post recession. The pie of the market cake that is yours, to keep it intact at least, advertising has to go on. And even other wise for second and third players in a given market, it is the right time to change competitive positions by wise spends, extra pressure and use of creative strategies. Looking for cheaper creative and cheaper production however because recession has come, will end up in a disaster and make your brand look cheaper.
9. Advertising Keeps Your Business Top-of-Mind during recession
With Shoppers with lighter wallets roaming in malls from store to store comparing prices, quality and service, top of the mind recall has become more important than in good times. Some may even stay at home postponing buying decisions unless it is that pressing or that extra ordinary. Advertising must get in touch with them progressively through the complete decision-making process. Your name must be fresh in their minds when they decide to buy .
Now that is a dream which to be true, you need to be seen, constantly and consistently. Bigger brands many a times make the mistake of switching off their engine after they have attained a certain height. It is ostensible, what will come about in such a case.
10. Advertising Gives Your Business a Successful Image
In a competitive market, bad news travel fast both within the firm and outside. Advertising kills rumours by telling the buyer and the market place of your buoyancy and vibrancy and that in turn boosts the morale of everyone from the employee to the buyer. The more so when there is a crisis situation, the ad agencies that handles you will be more bothered about the ROI, the media spends will become wise (particularly in commission based fee structures) media efficiency can be improved and asked for, and the brands will get constant attention by the agencies- both creative and media, which otherwise would have been even lacking.
Conclusion:
Advertising is a tool to successful marketing and brand building. There cannot be two opinions about it. It is a question only when bad times come and recession looms. This is an opportunity for marketers to redefine business and strike new paths than to resort to easy ways like cutting the marketing budgets. The ten points above is just to direct the reader’s attention to the fact that Advertising during Recession is not an oxymoron but instead something which can co exist. As the saying goes “when the going gets tough, the tough gets going” and only the tough gets going.
Advertising gives you a long-term advantage over competitors who cut back or cancel advertising . A survey of more than 3,000 companies found that advertisers who maintained or expanded advertising over a five-year period saw their sales increase an average of 100 percent, and companies that cut advertising grew at a less than half the rate of those who advertised steadily.Competition is competition pre recession, during recession and post recession. The pie of the market cake that is yours, to keep it intact at least, advertising has to go on. And even other wise for second and third players in a given market, it is the right time to change competitive positions by wise spends, extra pressure and use of creative strategies. Looking for cheaper creative and cheaper production however because recession has come, will end up in a disaster and make your brand look cheaper.
9. Advertising Keeps Your Business Top-of-Mind during recession
With Shoppers with lighter wallets roaming in malls from store to store comparing prices, quality and service, top of the mind recall has become more important than in good times. Some may even stay at home postponing buying decisions unless it is that pressing or that extra ordinary. Advertising must get in touch with them progressively through the complete decision-making process. Your name must be fresh in their minds when they decide to buy .
Now that is a dream which to be true, you need to be seen, constantly and consistently. Bigger brands many a times make the mistake of switching off their engine after they have attained a certain height. It is ostensible, what will come about in such a case.
10. Advertising Gives Your Business a Successful Image
In a competitive market, bad news travel fast both within the firm and outside. Advertising kills rumours by telling the buyer and the market place of your buoyancy and vibrancy and that in turn boosts the morale of everyone from the employee to the buyer. The more so when there is a crisis situation, the ad agencies that handles you will be more bothered about the ROI, the media spends will become wise (particularly in commission based fee structures) media efficiency can be improved and asked for, and the brands will get constant attention by the agencies- both creative and media, which otherwise would have been even lacking.
Conclusion:
Advertising is a tool to successful marketing and brand building. There cannot be two opinions about it. It is a question only when bad times come and recession looms. This is an opportunity for marketers to redefine business and strike new paths than to resort to easy ways like cutting the marketing budgets. The ten points above is just to direct the reader’s attention to the fact that Advertising during Recession is not an oxymoron but instead something which can co exist. As the saying goes “when the going gets tough, the tough gets going” and only the tough gets going.
To quote Prof Andrew Raseghi “ If you are already in the process of tightening your belt anyway, you might as well consider investing in a new pair of pants.”
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