Marketing in a recession

One move often made at times like this is to cut back the marketing budget.

Bad move.

Both logic and the evidence show clearly that if anything, this may be the best time to blow your horn--as long as you do it in a way that is both focused and measurable.

First, let's look at the logic. At a time when fewer people are coming through the door, is it wise to lower your voice in the marketplace? Is it a time to let people forget about you? No! When others are pulling back on their marketing and the landscape is quieter, now is exactly the right time to turn up the volume. Now is the time to grab market share that will both help you immediately and stand you in good stead when this recession blows over. (And it will blow over--these things always do.)

Now the evidence. Some of the biggest gains in history have been made by companies taking advantage of a quiet landscape to solidify their brands. Toyota, FedEx and many others moved well ahead of the pack using this strategy. (As just one example, Toyota fired up their marketing during the recession and gas shortage in the 70s. When the recession was over, Toyota had beaten Honda and Volkswagen as the country's number-one import--and it's never looked back. The momentum that was created then continues today.)

More evidence: A study during the 1970s recession showed those who maintained marketing spending, thereby maintaining their presence in the minds of consumers, out-performed those who didn't--especially in the years following the recession.

This is not the time to sit quietly and wait for the recession to end. This is a time to get out there--in a focused way, remember--and grab some of that well-deserved market share.