Advertising During The RecessionAdvertising for many businesses has always been challenging, but advertising during the recession makes things even more challenging.
Advertising during the recession is even more so since much of advertising cannot be quantified.
How do you know how many people have heard your radio advert? How many people have seen your advert on the billboards around the town?
How many sales have resulted from the combined advertising campaigns you have been running over the last quarter?
This is where Marketing Quotes tries to help.
By giving you advice, as all price comparison websites do, help you compare prices on advertising during the recession.
If you are looking for help with advertising during the recession, why not talk to advertising agencies that know about combatting economic times.
Advertising is a difficult thing to quantify as we have seen above as it is difficult to know if the advertising was successful or unsuccessful.
Marketing in general is the scattering of seeds, some fall on the rocks and die, some onto fertile soil and produce fruit.
There are as you know different sorts of advertising that can be used during the recession, however there is always the risk:
Most advertising companies would advise that advertising during a recession is actually a positive thing, but then they would do that as they would loose their income if you stopped advertising.
Our advice would be to look at what people are buying and what you are advertising. If you are selling high value items such as cars, chances are people would not be spending as much during a recession.
Think to yourself, would your customers be spending during a recession. If so then advertising would maybe an effective thing to do.
The UK has seen a tough few years, as many businesses close due to falling trade and rising costs.
This has certainly been the case in the retail industry as shops see their rents go up, their rates go up but their sales go down.
As internet shopping has grown and retail competition has grown, surviving in the retail industry has been a dog eat dog game.
However considering the global spend on advertising over the last few years, things have remained very much unchanged.
If anything the spend on advertising has only increased across mediums such as TV advertising, advertising at cinemas, radio advertising etc.
Advertising companies are always going to advise that marketing is the best way to generate exposure, as they have an interest in you spending money.
However marketing does generate exposure. TV advertising has become more accessible to smaller businesses, but TV advertising is more for brand marketing than direct selling.
For any business, marketing during the recession is a risky business, as everyone is desperate for work and client confidence is low. However only the strong businesses survive.
The ones that have a good marketing message will be the ones to stand out in the crowd. Advertising during the recession does not have to be expensive, just cunning.
During times of recession, businesses need to be creative.
Companies like Primark do really well, as they buy cheap and sell cheap. However not all businesses are like this. But, a lesson can be learned.
Advertising during the recession does not have to be a struggle, but an opportunity.
The UK has historically been in and out of recession. Let’s have a look back at history to see what has effected our economy and look to the future.
1492 – 1776 The UK was heavily involved in the African slave trade which caused the economy to boom. Fortunes were made in the new world and the money brought back to England.
1776 was the beginning of the American war of independence which cost the UK economy a huge amount by fighting a land and sea battle 3,000 miles away. This resulted in a rise in taxes and a huge drain on the economy. Some companies such as munitions suppliers did very well but for many companies, it spelled the end.
1914 was the First World War and again, this caused a massive drain on the economy in the UK. Some companies did well as they adapted to change. Food companies supplying the army did very well as did companies like Burberry that supplied clothing. For some, the war brought their business to an end.
1939-1945 was the Second World War and again the UK economy had to pay for a war fought on many continents. Taxes went up as the UK government sought to pay for the wars over the last 3 decades.
Adapting to change is important during times of recession, pandemic and war.
Trends show that war is coming again, recessions are coming again and the good times are often followed by challenging times.
Can you alter your services and products so that you can offer premium and budget?
Choosing a marketing company can be challenging, certainly during times of recession.
As mentioned, companies like Primark have come out of no-where and are doing very well selling cheap products for cheap prices. There again, companies like Rolls Royce have survived for over a century having started in 1904. In 2011 evolved into the aerospace and defence sectors after success producing engines for the military in the Second World War.
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