Lately, the economic climate is beginning to feel a bit unsatisfactory. We’ve lived through and survived economic downturns before if that’s what this is. Marketing in a downturn is never fun. Budgets get cut and tougher questions get asked. Inadequate answers abound. Suddenly, the marketing wunderkind down the hall has lost the hop in her step.
Solid advertising works, even in a downturn, because it’s built on solid fundamentals, not on style alone. Real practitioners know the difference between insight driven creativity and the sugared-up confections of transactional engagement.
If yours is the only budget getting cut, the first to go, it’s a sure sign that your management has no idea or faith in success of your advertising and marketing. Real success is measurable and the time to start asking the hard questions is when the sun is still shining.
Patience and Fortitude in tough times.
During the 1930s, Mayor Fiorello LaGuardia named the lions that sit astride the entrance to the NY Public Library, Patience and Fortitude, for the qualities he felt New Yorkers would need to survive the economic depression.
Patience and fortitude are two qualities that should be cultivated in every discussion of advertising and marketing. True brand growth takes time and a steady, unwavering commitment to the brand idea. It’s been my experience during tough economic times that not only do budgets get cut, but clients will begin to chase sales through tactics that do not align with the brand. This erodes the brand idea and results in the pursuit of ever more transactional tactics to boost sales.
It’s a race to the bottom.