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How can todays marketing strategy ensure future success for your brand?
Cost of living. Three words that have become a part of our everyday vocabulary. Turn on the TV, pick up a newspaper or speak to a banker and you will be told how you should be looking after any savings and how to make efficiencies on everyday bills. The fact is, the cost of living crisis has swept across the nation and consumers and businesses are feeling the pinch.
People still need to eat, drink and put fuel in their cars. They might be spending less or spending differently, but people are still spending. And this is the message that we are delivering to our clients right now. Our clients often ask what should be done in times of recession, when every penny counts. Stop advertising? Our message is simple; stop advertising and you will kill your brand.
In times of economic uncertainty, businesses that reduce their advertising spend do not see the profit increases that those who continue to invest in their brands do. In past recessions, businesses that significantly cut their marketing spend gave way to the rise of their most prominent competitors. During the 1990-1991 economic recession, McDonald’s cut their advertising budget leading to a 28% decrease in global sales. In this same time-frame, Taco Bell and Pizza Hut upped the ante and saw significant increases in their sales figures; Taco Bell by 40% and Pizza Hut by 61%. Cutting ad spend ultimately makes room for your competitors to flourish. Fact.
Our mission is to deliver results for clients. If we deliver for them today, we will help create a better tomorrow. We’re encouraging brands to continue spending on advertising now because it will safeguard their future .
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