During a conversation with a sales rep recently about how difficult it was for our industry during this economy, she offered some very sage advice derived from statistics from the last recession our country had.
“Based on the last three recessions, the businesses who maintained or increased their advertising during a recession actually saw 3-4 times the growth after it was over. The companies who cut back or stopped advertising took about 3 times the amount of time after the recession just to get back to where they were before the recession hit.”
Well I did not want to just take her word for it, so I did a Google search to find more statistics that would prove this and came up with several. Happy Reading!
http://www.macrovis.com/AdvertisingInDownturn.pdf
What I saw in these articles is to carefully consider what you cut back to ride thru this economy, cutting advertising and promotion may not be your best option!
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