advertising in a down economy
The more I see you
The more I want you
Somehow this feeling
Just grows and grows
With every sigh I become
More mad about you
More lost without you
And so it goes
In a recent study by Ad-ology, more than 48% of U.S. adults believe that a retail store, bank or auto dealership that does not advertise during a recession must be struggling. Likewise, a vast majority perceives businesses that continue to advertise as being competitive or committed to doing business.
So the lesson is… once you’ve established a brand, you need to keep investing to ensure that it remains relevant and alive.
A few other snippets reflecting the current state of things…
- 40% of consumers use coupons more now than a year ago
- Most consumers are as willing or more willing to pay more for ‘healthy’ or ‘organic’ products than they were a year ago
- A ‘deeply discounted price’ was the number-one factor that would make consumers more likely to purchase a big-ticket item (+$1,000)
- TV, newspaper, direct mail, and Internet top local media from which consumers saw/heard an ad within the last 30 days that led them to take action
- Store Web sites ranked second only to search engines as the way consumers research products and shop online
Is this what you’d expect? Combine this with my observations in a recession winner? and this may be the time to invest in growing your media business.
Tell me it isn’t so… I’m listening.