In the world we live in, downturns are inevitable. I’m all for there not being a downturn any time soon; however, you can’t help but read the headlines and wonder if something is about to change. It’s pretty common knowledge that when there is a downturn, you’re not supposed to stop marketing. But why do people do it? I can see cutting some superbowl ads, but we don’t advise cutting the most cost effective marketing medium (promotional items)!
In 2008 I had the opportunity to be involved with many companies who took advantage of the downturn (their competitors slashing their marketing budgets). With the expectations that sales would slow, I followed my own advice and actually increased marketing and client-related travel spend. That year, working for a small/local promotional distributor, we ended up having our best year ever (at that time). The clients that we served pushed harder to gain visibility and market share, and thrived. As you plan for 2019 and fear the occasional downturn news, keep marketing – because at the end of the day, marketing is your voice and brings the results you want.
Throwback to 2009 … t-shirts for the Hampton conference!