I recently ran into an article by about how you should capitalize on the great marketing opportunities provided during a down economy. One statement really stood out for me was:
In a study of 600 business-to-business companies, McGraw-Hill Research found that businesses that maintained or increased their advertising expenditures during the 1981-1982 recession, averaged higher sales growth during the recession and in the three years following. By 1985, sales of aggressive recession advertisers (those that either maintained or increased spending) had risen 256% over those that cut-back on advertising. Likewise, in 2001, another study found that aggressive recession advertisers increased market share 2 ½ times the average for all businesses in the post-recession economy
He has 4 reasons to marketing in a down economy:
- Cut through the clutter
- Convince them to spend on you
- Spend less and make a stronger impact
- Updating your Web site
