Is anyone ever going to plan an event again?
Marketing in a recession is tricky business. Companies are reluctant to release budgets and the focus is on cutting. Unfortunately in the long run people lose sight of their overriding objectives and how to achieve them… any sales focused business knows that unless you spend, you cannot achieve. Turning off the tap on advertising and events will save your bottom-line short term but the long term issues will soon be incredibly obvious!
Strategic marketers and business leaders know that you cannot get totally bogged down in the minutia of the recession scare, you must look down the road and ensure that you have appropriately planned to meet your sales targets, that your customers and your employees are happy and unfortunately that is not possible in a NO SPEND environment.
Stats prove that post-recession, employment rates increase and those companies that managed to survive will thrive. Many incredible companies have launched during a recession, namely: IBM, UPS, Walt Disney and Microsoft to name a few. Bold corporations can also take advantage of reduced advertising rates and even by maintaining their advertising spend their reach will yield amazing results (due to everyone else’s ultra conservative approach).
Be cautious not conservative, be bold but with proper awareness.
At Real Communications , we practice what we preach, we are still hosting our big client bash, we are launching a new site and spending money on our marketing efforts like never before.
Looking forward to experiencing the post-recession boom soon!