Spending power is staying power
Dave Waller, Print Week, 13 March 2009
Companies that invest in marketing during a downturn, may turn their fortunes around faster, finds Dave Waller.
...Tony Jones, chief executive of Pensord, subscribes to this viewpoint. Do it or die! The stronger companies press on during a downturn and come out even stronger. The weaker companies cut back and it's like denying a plant water - it dwindles and dies, says Jones.
To some this approach may seem counter-intuitive. Surely when times are tough it makes sense to cut back on discretionary spend? Past recessions have, however, bred countless examples of companies gaining long-term benefit from being bold with their marketing...
Read the full article at: Print Week
Comment from Adare's Steve Williams within the article:
It's inevitable that budgets are going to be squeezed, so it's about making your money work harder and being absolutely sure it's going in the right place.
Plan well, buy well, be consistent in message, be targeted, be confident in your company's ability to match the promises and be different, Jones explains.
You can also improve your marketing return on investment if you focus your approach to marketing in a more precise, targeted way, rather than going for a blanket approach, says Steve Williams, Sales Director at Adare.
Customers need to leverage the insight and knowledge that already resides in the business about existing customers and prospective customers. You need to consider your current marketing spend and activity and streamline these revenues into the areas that are most efficient, he explains.
