You know that tired old mantra as to why it’s smart to advertise during a recession? Ever wonder why it’s regurgitated ad naseum every time the economy tanks? Because it’s true! Yes, advertising during a recession is the right thing to and there’s research top back that up.
A McGraw-Hill study of 600 businesses found businesses that maintained or increased their ad spend saw higher sales growth during a recession and in the years following. In fact, the study found those who maintained or increased their ad budgets experienced a 256 percent increase in sales compared to those who cut their budgets.
Another study found businesses that advertised during a recession saw their market share increase 2.5 times.
And if you think waiting until the recession is over is a smart thing to do, consider this; a third study revealed 80 percent of the businesses that waited until a post-recession economic expansion to advertise saw zero increase in market share. Which, of course, is obvious since everyone else began advertising again.
Sadly, not many companies take these facts to heart. Rather, they recoil, close the wallet and pray. Other realities come into play such as the indisputable realization that if there’s no budget, there’s no budget. And all the desire in the world to advertise during a recession isn’t going to change that sad fact.
But…if you can beg borrow and steal, study after study proves, time and again, it’s the smart thing to do.
Now for the sales pitch. We’re Adrants. We love advertising. Our readers love advertising. They work in the adverting business. They’re very cool people. They buy stuff. Stuff for work and stuff for play.
In addition to hard demographics such as 64 percent having more than five years in the business, 73 percent actively involved in buying/selling/creating online media, 70 percent holding senior management or higher jobs, 67 percent having full control of marketing budgets; they tend to be stylish and fashion conscious, into pop culture and music, attune to trends, consumer technology savvy and a whole host of other desirable qualities many advertisers love. Check out all the reader stats here.
Times are tough. For you. For us. For everybody. But do the smart thing. As the research proves, invest now, realize the benefits later and watch your competition disappear in your rear view mirror as you blast out of this recession miles ahead of the competition. Adrants Sales guy Justin Martin awaits your call. He has ideas. He will make things work for you.
UPDATE: Here’s a fantastic aggregation study done by Michele Hush, several of her associates and mNovak Design that goes deep into what happens with marketing in a recession and what companies can do to work their way through it. And it’s all in easy-to-read presentation style.