Published

How Much Should You Spend on Marketing During a Recession?

It pays to maintain — and in some cases increase — marketing expenditures during an economic downturn. As Peter Fader of the Wharton School said, “As companies slash advertising in a downturn, they leave empty space in consumers’ minds for aggressive marketers to make strong inroads.”

Share

stock photo
It pays to maintain — and in some cases increase — marketing expenditures during an economic downturn. As Peter Fader of the Wharton School said, “As companies slash advertising in a downturn, they leave empty space in consumers’ minds for aggressive marketers to make strong inroads.” While marketing may seem trivial at times like these, as the research shows, and as Mark Ritson in MarketingWeek put it, “There are few things more proven in the world of marketing than the power of advertising in a recession.” What does the actual research say about marketing during a recession? Read more

RELATED CONTENT

  • Marketing: New World, New Rules — Think Fast

    No matter what approach you use to evaluate your marketing, you have to be willing to act. If something is working, keep going. Things that sort of work may benefit from tweaking and further testing. If something fails out of the gate, abandon it — fast. It’s time for a new marketing scheme—one that is digital, agile and tested. We’ll focus on digital marketing and failing fast. Innovate, experiment, reevaluate, and repeat with these easy steps.

  • Marketing Messages That Cut Through The Noise

    We’ve talked about customer journeys, emotional intelligence, and finding and retaining customers. You’ve tuned up your marketing messages. Now it’s time to decide where to place them, so customers tune in. In a world with endless channels of information, how do you become a source of knowledge — not noise? One step at a time.

  • Why Manufacturers Should Pay Attention to Web Accessibility

    Accessibility doesn’t need to be thought of as a compromise that somehow reduces the aesthetic of your website. All you need to do is ensure that your design ideas are informed by accessibility standards, and you will end up with an attractive and modern website that works for the largest possible number of users.

Gardner Business Media - Strategic Business Solutions