In tough economic times, history has taught us that it can be greatly beneficial to your company and help grow your brand faster than it would during a more stable financial climate.
You may think cutting marketing during a recession is a good idea because less people are buying and it could take up precious funds, but this couldn’t be further from the truth.
Your business is less likely to succeed in the long-term if you reduce your marketing, regardless of economic factors. The saying “out of sight, out of mind” is true for marketing.
To avoid losing customers during a downturn, it is vital to continue marketing. Your marketing efforts are your connection to your consumers and without them, you are likely to see a drop in sales during the downturn. Your competitors who are still marketing will be drawing away customers from your company.
A stable or increasing marketing budget has the potential to convert at a higher rate than when in a positive financial climate.