In times of economic difficulties, it’s natural for brands to react by pulling back spending altogether, and the marketing budget is often the first to go. However, it’s critical to remember that sustained marketing is essential to a brand’s survival.
There is decades’ worth of research that shows that maintaining or even increasing ad budgets during a weaker economy can ensure short and long-term advantages for brands.
Think about it: When it’s too expensive to dine out every night, consumers will spend more time flipping through their TV options and scoping out retail sales for their next DIY home project—all of which are influenced by advertising.
Although a recession is likely on the way, it’s still possible for brands to effectively market to consumers and do more than just weather the storm. By increasing the share of voice, prioritizing precise relevancy in messaging, and adapting content to today’s environment, brands can set themselves up for success.
