Nov 25 2008
Everybody is offering advice on marketing in a downturn - Part 3
Like a London bus, you wait ages for blog posts from Total Marketing Solutions and then 2 come along in a day!
I came across some statistics today that put some substance behind the oft heard claim that companies who continue to invest in marketing throughout a downturn out perform those that don’t. I myself am quick to use this argument although I confess to always being a little uncomfortable in saying it without some hard facts to back up the statement as I fear that it can come across as self-serving - i.e “as a marketing consultant he would say that wouldn’t he?”
Anyway today I read some of these hard facts on the Go-To-Market Strategies website - apparently the facts reveal that in past recessions, companies who continued to aggressively market themselves realized an average sales growth of 275 percent over the next five years, versus a 19 percent growth rate of those who significantly cut marketing expenses. If the past is any predictor of the future then these figures speak for themselves.
As we are currently advising our clients as marketing consultants, the trick is to make sure that your continued strategic marketing investment is very well targeted and focused on delivering a demonstrable return on investment.