Cutting back on spending is often the first reaction a company has when facing a recession. But care should be taken on what gets cut and why.
Writer Brad Adgate an independent media consultant for Forbes, cautions that a bad idea is dropping your advertising.
“…there have been a number of studies going back nearly one century that point out the advantages of maintaining or even increasing ad budgets during a weaker economy,” he wrote in his recent article for Forbes. “Those advertisers that maintained or grew their ad spending increased sales and market share during the recession and afterwards.”
He continued: “As a popular adage says, “When times are good you should advertise. When times are bad you must advertise.”
He lays out the reasons in “When A Recession Comes, Don’t Stop Advertising”. READ IT NOW