Here we go again… marketing in a recession?
Posted on 02. Oct, 2008 by Ken Davidson in Comment
Is it a recession, or is it a downturn, a trough, a long blip, a precipice? By crikey, I cannot be the only one frustrated that we seem to be talking ourselves into more trouble.
I do wonder, if there was a blanket ban on doom-mongering would the banks just start lending to each other again? You know, play on the fact that folk have short memories, and stop reminding them of how bad things are going to get. Seems like a plan to me: couldn’t do any harm!
Here we go again? I remember the last time I penned a response like this was in the fall-out of 9-11, when advertising budgets were slashed, stock markets crashed, and airlines went bust. I sent an email newsletter to our database, in two versions. One was entitled, “Recession, what recession?”, the other was entitled “Recession, what %$&£ing recession?” – the latter being sent to less-sensitive contacts, and being more representative of my anger at the situation.
I’m going to keep it just as succinct this time.
If you’re going to reduce your marketing spend in light of the economic position, then please don’t be so stupid.
If you’re delaying the first serious marketing you’ve ever considered (due to being a start-up or a youthful company), then please don’t be so blinkered.
Saving money by reducing your marketing presence is madness: who supplies your income? The customer, that’s who. And what happens when new customers don’t find you, or old customers forget you even lived? Yes, that’s right – your company fails, but don’t worry: you’ve presumably saved some cash for redundancy money.
What’s that I hear you say? “Oh, of course he’ll tell us to spend money on marketing, that’s the business he’s in!”. Well, that’s true – but have you never heard of coincidence?
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