Monday, March 23, 2009

Should you advertise in a recession?

Yes.

Oh, you wanted a little more to back that up? How about this, from Adrants:

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.

But don't take their word for it. Here's a whole book on why spending on new opportunities and smart marketing is smart in a recession.

When the going gets tough, the tough get going... on new ways to grow their business and prepare for the recovery.

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