With all the media hype about a possible recession, a weaker dollar, and a downturn in the real estate market, a company’s first inclination may be to pull back on expenses and trim the marketing budget. Instead, a company should consider increasing their marketing spending or at least maintaining their current spend. Companies should look at this as a time to strengthen their competitive advantage. Boosting your spend while your competitors are cutting back, can improve your market share and increase your return on investment at a lower cost. If you have to cut your spend then try to maintain the same advertising frequency. Consider switching to radio ads instead of TV, place :15 second spots instead of :30 second spots, or utilize direct mail or interactive marketing such as social networking sites for a more immediate impact. But whatever decision you make, always stay consistent and true to your message and brand. In times like these, consumers find comfort in the familiar.

This entry was posted on Friday, March 21st, 2008 at 4:30 pm and is filed under Marketing & PR. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.