Published on April 25, 2020
Keep calm and spend. Why at a time when businesses need to market themselves, do they have the tendency to ‘go dark’.
It’s like they hit the panic button to a knee jerk reaction and suddenly all their marketing activity halts, with no real rationale of why, just to react as every other business is doing in trying to save money. But is it really the right thing to do. Or is this an opportunity to carry on but do things differently in the marketing space.
If every business stopped their spend tomorrow, what would happen to all the advertising and marketing outlets we currently use now and would these outlets still be around in the future.
From previous economic experiences, such as the dotcom bubble burst and the recession of 2008 those businesses that cut their marketing budgets entirely took years to return to the sales levels of those that sustained their spend.
We are now faced with opportunity to promote ourselves in a way, where we have to be smart and think intelligently. Digital subscriptions are rising sharply as more people turn to the internet to get news. 16-34 year olds are home bored and all ears.
Consumers and businesses alike, do not want brands or their brands to retreat at a time of crisis. How you communicate now and act as a business, bases peoples future purchase or retention and recruitment of personnel, on actions of companies during this crisis.