ECONOMISTS are at war over the question of whether the UK is actually in a recession, following a series of statements casting doubt on the accuracy of official figures which last week confirmed Britain had experienced two consecutive quarters of negative growth.
Whether or not we are actually in a recession or not is yet to be decided, there’s no point however in waiting around to find out. What is important is that we maintain marketing spending.
This is not the time to cut advertising.
It is well documented that brands that increase advertising during a recession, when competitors are cutting back, can improve market share and return on investment at lower cost than during good economic times.
Uncertain consumers need the reassurance of known brands, and more consumers at home watching television, logging on to the net or reading their emails can deliver higher than expected returns at lower cost-per-thousand impressions. Brands with deep pockets may be able to negotiate favourable rates and lock them in for several years with suppliers. If you have to cut marketing spending, try to maintain the frequency of advertisements by shifting to smaller more targeted audiences, substituting radio for television advertising, or increasing the use of direct marketing, which gives more immediate sales impact.
Revive Management’s direct marketing data pool provides the perfect tools to understand, target and build relationships with prospective buyers across the B2B and B2C market place via direct mail, email marketing, SMS and telephone. Targeting a new captive audience utilising transactional marketing data allows you to pick out the consumers that will respond best to your products and services, generating a stronger ROI in the process.
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