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Digital Marketing Trends in 2021

Digital Marketing Trends in 2021

The tumultuous year of 2020 caused a major shift in consumer behavior, buying tendencies, and online interactions. Businesses were forced to quickly pivot in their marketing strategies in order to stay relevant and continue to serve consumers. Keep reading more more tips on digital marketing trends in 2021.

As we move into a more hopeful 2021, businesses must consider what was learned last year and form new strategies based on current digital trends. Read below to learn some of the top digital marketing trends that will lead in 2021.

Short-Form Videos

Staying at home and increased levels of boredom has led to many people turning to short-form videos for entertainment. TikTok soared to the forefront in 2020 and is now the top preferred platform for Gen Z. This soon led to Facebook launching the new Instagram Reels to give consumers what they want.

With the increase of social media use of all ages, businesses have began to increase marketing budgets to these channels. In Q2 of 2020, social media accounted for nearly 25% of total marketing budgets, an increase of 13% in 2019.

Quick, catchy videos are taking over social media and are here to stay. This year, brands need to meet consumers where they are. If your business isn’t already investing in a creative video strategy, it’s time to get started!

Social Media Shopping

In 2021, social media is set to become a top channel for purchase, rather than just discovery. In recent years, Instagram has become increasingly used for shopping. And early last year, Instagram made a big switch to make social shopping even easier. The platform replaced the activity tab with a shopping tab, making Instagram shopping a simple click away.

A recent study found that 30% of consumers would shop directly through social media platforms. This year in 2021, it is crucial for businesses to use social media shopping as part of their e-commerce marketing strategy.

Virtual Events

While virtual events began out of necessity during the pandemic, they have proved to offer substantial ROI and increased accessibility. Companies discovered that going virtual allowed their event to reach a whole new audience. By eliminating the extra expenses and travel costs of an in-person event, many businesses experienced higher attendance and participation with online events.

The key to a successful virtual event is excellent content, great speakers and having fun in order to keep online viewers engaged. In 2021, virtual events will continue to be a top marketing trend for businesses to reach a large number of consumers where they are.

Contact us today to learn more. 

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Business Marketing

Brand-Driven Storytelling

Brand-Driven Storytelling

Brand-driven storytelling is the art of using a cohesive narrative to connect your brand with customers. The key to successful brand storytelling is to clearly communicate your brands’ core values in a way that resonates with consumers.

A recent study found that 55% of people consider buying a brand if they love their brand story. Of those people, 44% will share that story with others, and 15% will immediately purchase the product.

It appeals to consumer’s emotions

It is scientifically proven that human emotions are impacted by stories. Our emotions play a significant role in our daily lives, which also affects our buying decisions. When your brand tells a great story, you are speaking to the underlying reasons why a consumer might buy your product or service. A successful brand story goes well beyond just talking about the product, it’s about making a connection with your audience.

It humanizes your brand

In a heavily digital world, the human element can sometimes get lost behind a brand. Think about the emotions, values, and ideas your company offers to consumers and incorporate those elements into your brand story. A great brand story is always authentic and knows how to relate to consumers on a personal level. When consumers see that your company is made up of real people, it helps to build trust and customer loyalty.

It makes your brand unforgettable

Your brand story can give your company a unique edge and stand out in the crowded marketplace. With so much competition in the digital space, it can be very difficult for brands to stand out. It’s not enough to have a good product or service, you need to have a story that sets your brand above the rest.

Studies have found that storytelling will not only increase your brand favorability to your audience, it can also be up to 22x more memorable than facts. So rather than just sharing facts about your product, tell a story that clearly communicates your company values.

Using storytelling to get to $1 billion

The Dollar Shave Club exploded into the retail market with the launch of a hilarious video that creatively told their brand story with a direct aim at one of the biggest razor blade providers in the world- Gillette. This startup company tapped into a 30 billion dollar industry with Gillette owning about 70% of it. In March 2012, this video was released and went instantly viral – getting more than 12,000 orders in the first 48 hours. Just five years later in 2016, the Dollar Shave Club was purchased for $1 billion.

The Dollar Shave Club brand story was ingenious because it not only built a brand that inspired customer loyalty but it also simultaneously disrupted the brand story of a massive company. The Dollar Shave Club proved that brand storytelling  isn’t about the massive budget, it’s about the strategic brand narrative – one that communicates a meaningful message that immediately resonates with consumers.

 

 

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Business Marketing

Black Friday 2020

Black Friday 2020

The holiday shopping season is just around the corner. With the COVID-19 pandemic, it goes without saying that Black Friday 2020 will look a little different. Over the last few months, we have seen a major shift in consumer buying habits including a drastic increase in digital purchases and curbside pickup.

Online shopping during the holiday season has been on the rise over the past few years. In 2019, over 93 million buyers made a purchase online on Black Friday and another 83 million purchased on Cyber Monday. This year, data shows the number of online shoppers is expected to significantly increase due to the influx of new customers who usually shop at brick and mortar stores.

The End of Black Friday Crowds

In June 2020, a Google survey found that more than a third of US shoppers who normally shop in store for Black Friday, won’t this year. And half of US shoppers say the pandemic will affect how they’ll shop for the holidays this year. In addition to this, 47% of planned shoppers said they’ll use options to buy online and use curbside pickup.

Walmart, Target, and Best Buy have already announced they will be closed on Thanksgiving – ending a longtime tradition of door buster sales that attracted large crowds. This year, the rush for hot-ticket items instore may be at an end and replaced with online discounts that begin sooner and last for longer.

With even more consumers turning to online shopping in 2020, businesses need to ensure their digital presence is stronger than ever.

Stand Out in a Crowded Digital Space

With online stores facing significant competition this year, especially in the upcoming holiday season, it is crucial that businesses implement online customer experiences that will help them resonate with consumers.

Provide a seamless customer journey

Last year, the abandoned cart rates on Black Friday and Cyber Monday were around 70%, making it extremely important for businesses to provide a seamless process in order to maximize revenue. Even when a consumer has added an item to their cart, the journey is far from over. Strategic tactics must be implemented to obtain a conversion.

Find consumers where they are

In 2019, a study found that 40% of new Black Friday weekend buyers made their first purchase from a different browsing device than the one they first used. Many holiday shoppers bounce across different devices before they actually complete their purchase. This non-linear purchase pattern is common for many Black Friday Shoppers, making it crucial for businesses to use cross-device tracking. This tactic reminds consumers of their shopping cart across multiple different channels to help them pick up where they left off and complete with their purchase.

Optimize for mobile

Optimizing for mobile is essential for obtaining conversions and should be a high priority during any time of the year. In 2019, nearly 40% of Black Friday sales were placed through a smartphone. Now is the time to ensure your site is properly optimized for mobile devices.

Launch Google Shopping Listings

In April of 2020, Google announced that Google Shopping would now include free listings for retailers. Previously, the listings have only been available for paid advertisers. As a free channel with the potential for large visibility, Google Shopping Listings is a must for businesses to use this holiday season.

Let’s chat. Contact us today.

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Business

The Van Halen Brand

The Van Halen Brand

Millions around the world are saddened by the recent passing of rock n roll legend, Eddie Van Halen. Over the years, the Van Halen band has achieved worldwide album sales of over $96 million with all but one of its albums hitting Number Six or better on the charts. Outstanding success by any means.

Van Halen was more than a band; it was a BRAND. One that offered constant quality, volume, excitement, and attitude. Eddie Van Halen showed us what it takes to build a lasting brand, and many businesses today can learn from his example.

Brand Consistency

To have consistent branding, a business must hold true to its core values, vision and principles. Branding that stays consistent even when a company undergoes change, shows consumers who you are and what you stand for. Consistency results in a brand that people will trust and loyally follow.

Even with three different lead singers, Van Halen created a distinctive sound and brand consistency over the years. With his dedicated leadership as CEO, Eddie Van Halen acted consistently on decisions and maintained control from behind the guitar. Eddie Van Halen grew his brand and fan base by showing consistency and staying true to the original vision of the Van Halen band. Van Halen was always about the music and never wavered from producing awesome rock n roll.

Brand Evolution

It is essential that your brand has the ability to evolve and take risks to stay relevant. Testing organizational limits is part of understanding your brand’s full potential. Van Halen had three different lead singers over the years which proved the band’s ability to evolve and continue to grow a loyal fan base. While replacing the iconic lead singer David Roth with Sammy Hagar was a risk for the band, Van Halen music continued to soar high on the US charts (all four of Van Hagar Albums hit #1).

In 2009, Van Halen was able to capture an entirely new audience with the release of Guitar Hero’s: Van Halen. Now that teenagers thought listening to Van Halen was cool, it opened a whole new landscape for the band. This new fan base purchased music, tickets, merchandise, and helped Van Halen reach a whole new generation of fans.

Brand Quality

 

Consumers expect the quality of a product to align consistently with your brand. Eddie Van Halen poured his life’s experience and expertise as a guitarist into designing a product that would line up with the quality of rock music that Van Halen was known for.

The Wolfgang guitar design and development process took over two years of trial and error research. This intense process included multiple prototypes that went through a full year of hardcore, in-concert testing by Eddie Van Halen during his 2007-2008 world tour. The final product of the Wolfgang guitar revealed a first-class instrument with outstanding durability and quality.

When asked about the Wolfgang guitar, Eddie Van Halen stated, “It’s not a fad, it’s 35-40 years of my knowledge of what makes a sweet, sexy, toning, quality, indestructible instrument.”

Eddie Van Halen will always be remembered as an amazing guitarist with a memorable brand.

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Business Marketing

Building a Strong Cohesive Brand

Building a Strong Cohesive Brand

Every business has its own unique mission, brand voice, and goals. Knowing how your business differentiates from competitors is an important step, but knowing how to clearly communicate that to your consumers is what really sets your business apart. Successful businesses must not only build a strong brand, but they must also take a cohesive approach to their branding. 

What is cohesive branding?

Cohesive branding is showing consistency in your brand across all platforms to ensure that your business is immediately recognizable to consumers. Your audience may encounter your brand in various places such as your website, social media channels, landing page, digital ads, commercials, brochures, etc. To resonate with consumers, a strong brand must keep the same tone of voice, colors, graphics, and fonts consistent across all marketing platforms and materials.

Why a cohesive brand strategy matters

  1. Makes a positive first impression
  1. Creates a memorable brand
  1. Increases trust in your brand
  1. Builds brand recognition
  1. Increases conversions and sales

 

Building a cohesive brand marketing strategy is crucial in a competitive marketplace. If a business fails to communicate consistent branding to its audience, you could leave prospects feeling confused with who you are and what you do. Strong, consistent branding builds recognition, trust, and credibility for your business.

Everything you need under one roof

 

If you are looking to build and strengthen your brand the right way, partnering with Spectruss could be exactly what your business needs!

Spectruss is a full-service, all in-house marketing agency with over 10 years of experience working with numerous brands and businesses in various industries. We are a team of specialized individuals whose mission is to create stronger, more cohesive brands for businesses.

As a full-service, all in-house agency, we offer everything your business needs for branding, marketing, promotions, and advertising under one umbrella. This not only keeps your brand consistent, but it also saves your business both time and money.

Capabilities:

We tailor our services and packages specifically for each business based on their unique needs and goals!

 

Strengthening your brand during COVID-19

 

Creating a cohesive brand that consumers trust is crucial to the success of a business, especially during uncertain times. Through strategic brand marketing strategies, we helped our client, RefinedLooks, continue to grow during the global pandemic. In four months during COVID-19, we increased the number of consultations and booked appointments by 90.2%!

 

 

If you’d like to learn more about how Spectruss can help strengthen your brand, give us shout! We’d love to talk with you.

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Business Digital Marketing

How To Spend on Advertising?

How To Spend on Advertising

Great advertising and marketing are crucial to the success of a business. In recent years, digital advertising has seen significant growth, making it more important than ever for companies to have a strong online strategy in place. So how much should your company spend on advertising and where should that money be invested?

What should be your budget?

The average marketing and advertising budget for a business is 10% of its gross revenue. However, advertising spend isn’t a one-size-fits-all equation. Determining the best advertising budget for your business depends on your industry, company size, company history, existing digital presence, and goals.

1. New Businesses

For first-year businesses, it takes more marketing capital to get off the ground. New businesses need to invest heavily in brand awareness to gain customer trust and a market voice. 

Percentage: 12-20%

Variables: Some industries are more competitive than others. It is crucial to conduct in-depth market research to understand your audience and competition. The level of competition will help you determine how much to spend in ad dollars.

2. Established Businesses

Percentage: 6-12%

Variables: Competition and profit margin are two important factors for determining your advertising budget. The higher your profit margin, the more you can afford to spend on marketing and advertising. 

If you are a smaller company doing less than $5 million in sales, the U.S. Small Business Administration recommends spending around 7-8% of your gross revenue on marketing. 

 

Where should you invest your ad dollars?

To properly allocate your ad dollars and maximize your ROI, businesses must pay close attention to industry trends, competitors, and consumer behavior.

In 2019, over $100 billion was spent on search marketing, display advertising, social media, and email marketing. For the first time ever, digital marketing spend surpassed traditional advertising spend (TV, print, radio, etc.). While traditional advertising is still a relevant means of marketing, digital advertising is projected to continue to dominate in the coming years.

How should you spend in a recession?

As the COVID-19 pandemic continues to cause economic uncertainty in the United States, businesses need to remain calm and reframe from slashing their advertising budget.

During a recession, there is less competition and noise. While other businesses are quiet, your customers are more likely to hear your brand voice above the rest. In addition to this, less competition means cheaper ad costs. When the economy improves, your business can emerge as a market leader having acquired a substantial customer base at a lower cost.

“A man who stops advertising to save money is like a man who stops a clock to save time” -Henry Ford

Reach out to us today!

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Business Marketing

Podcast with CEO of Chattanooga Whiskey, Tim Piersant

CEO of Chattanooga Whiskey

In this podcast special, Sam Silvey chats with CEO of Chattanooga Whiskey, Tim Piersant, about all things regarding brand authenticity and strategy, overcoming obstacles, the effects of COVID-19, and other important topics. Tim shares the inspiring story of Chattanooga Whiskey and its 10-year journey of establishing its brand in the marketplace.

Listen now to understand more about how Founder and CEO of Chattanooga Whiskey triumphs through adversity as his company turns global.

How it Began

In 2011, Chattanooga Whiskey was founded by Tim Piersant and his partner, Joe Ledbetter, two friends with a vision to reform the ban on distilleries in Chattanooga, TN. Before 2013, it was illegal to distill whiskey in Hamilton Country due to the decades-old prohibition laws. With a mission to bring back “Whiskey to the People”, they set out to overturn those laws and began the Vote Whiskey campaign. Utilizing a broad marketing strategy centered around empowering the Chattanooga community, the successful Vote Whiskey campaign gained huge traction across the city. In May of 2013, the laws were overturned. Not only did the Vote Whiskey campaign open the doors for Chattanooga Whiskey, but it also created significant economic opportunity for all of Chattanooga, TN.

Following this milestone, Chattanooga Whiskey became the first distillery in the Chattanooga area in over 100 years. In 2015, they began the process of crafting their own unique bourbon whiskey recipe. After four years and over one-hundred recipe variations, Chattanooga Whiskey perfected and released the first ever Tennessee High Malt, a local whiskey that celebrates Chattanooga’s rich distilling history.  

Brand Authenticity

Over the past two decades, white labeling in the spirits industry has become so common that finding a truly authentic brand with a real story is very rare. With the momentum and name recognition that came from the Vote Whiskey campaign, keeping the same white label product would have been an easy solution for Chattanooga Whiskey (the product was already doing well in several states), but that was not the Chattanooga Whiskey way. They were born to be trailblazers, so instead, they decided to be true to themselves and create a completely unique and entirely new bourbon recipe – the Tennessee High Malt. Although creating a new product was a significant risk, it was a risk they were willing to take to be an authentic brand.

In the video, Tim Peirsant shares the story of Chattanooga Whiskey’s recent launch in Kentucky and how it was received in the market. Kentucky consumers are known for their appreciation of bourbon, so it was important that Chattanooga Whiskey stood out as a unique brand. By sharing their authentic story of how Chattanooga Whiskey created the only Tennessee High Malt, it gave them a better chance to succeed in a market like Kentucky. Chattanooga Whiskey is a progressive brand because they not only have a true authentic story, but they also deeply believe that their flavor is unique, better, and different.

Brand Strategy

Tim explains that markets operate very differently in the spirits industry – some are independently driven while others are chain driven. This is important to take into consideration when building relationships, utilizing marketing resources, and implementing marketing tactics. An important strategy for Chattanooga Whiskey is to invest heavily in consumer education. Rather than using a “Spray and Play” tactic which would spread them far too thin, Chattanooga Whiskey has taken a more focused approach to share their story and build relationships the right way.

Even though naming a brand after a community can be limiting, Chattanooga Whiskey has gained major brand recognition across the United States. They are the only real branded Chattanooga product that is available in a third of the country. Chattanooga Whiskey is already available in nine different states and will soon be in twelve.

COVID-19 Challenges

Although whiskey is somewhat of a “recession-proof” product, the industry has faced some very difficult challenges with the COVID-19 pandemic. Big whiskey brands produce and sell approximately 80% of consumed alcohol. Although craft distillers only make up for a small fraction of sales, they are a huge economic and market driver. Tourism and social activity are major factors for the local spirits industry as they grow and build their brand. With COVID-19 causing the shutdown in the hospitality industry, distillers across the nation are suffering. A recent study found that 60% of craft distillers were doubtful that they would survive in the next one to two months.

Chattanooga Whiskey has been fortunate during these unprecedented times due to its growth, price point, and amount of time they have been in the industry. Because Chattanooga Whiskey is a retail-centric brand, they have been able to weather the storm and continue to grow. Chattanooga Whiskey has seen a 62% increase in sales compared to last year, whereas 42% of distillers are going out of business.

Let’s chat! Contact Spectruss today.

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Business Marketing

COVID-19 and Outdoor Recreation

COVID-19 and Outdoor Recreation

 

COVID-19 and Outdoor Recreation. How does it effect you? As the U.S. continues to face the COVID-19 pandemic, people are looking to outdoor activities as a solution to staying occupied and healthy amid social distancing mandates. Research shows that consumers are shifting discretionary spending away from typical summer travel plans and focusing instead on family-oriented outdoor activities. As a result, several outdoor categories have experienced exponential growth in recent months.

While the sports & outdoor industries typically see increased activity during summer months, this year those numbers have skyrocketed. Top retail websites like Dicks Sporting Goods, Academy, Cabela’s, Bass Pro, and Camping World collectively saw an 86% year-on-year increase in May 2020. With consumers increasingly seeking outdoor activities, sales of bicycles, boats, water sports, and camping gear have exploded.

Boating

With many summer vacations canceled, the boating industry experienced a major peak in interest to get out on the water. According to the National Marine Manufacturers Association, 70 percent of boating dealers reported they experienced significant sales growth in May 2020, the strongest number recorded since July 2018. Personal watercraft sales have spiked by 75 percent compared to May 2019. Boating has given consumers a way to get out of the house and enjoy summer days on the water while still maintaining social distancing recommendations.

Paddle Sports

Before COVID-19, the paddlesports category such as kayaks, paddleboards, rafts, and canoes experienced a decline in sales. From an inventory management standpoint, these expensive and bulky products typically gave retailers a challenge for making sales. With consumers looking for family-based activities, these products have been selling at unexpected speeds. In recent months, Google searches for water-related products increased by 70 to 100 percent. And in June 2020, sales of water sports products increased 56 percent compared to the previous year.

Cycling

The cycling industry experienced significant growth soon after the stay-at-home order was announced in the United States. In June 2020, bicycle sales were up 63 percent compared to the same time last year. Most sales were generated from family-friendly bicycles during the early months of COVID-19. In recent months, the industry has seen an increase in full-suspension mountain bikes and road bikes. This is believed to be attributed to the shortage of family bikes, along with people taking up cycling as a more permanent hobby.

Camping

The camping industry has recently experienced a surge in performance due to the increasing consumer interest of backyard adventure. In June 2020, sales increased by 31% as more people camped at local destinations or even their back yard to spend quality time with family outside of the house. Recreational tent sales grew almost two times as fast as backpacking tents, which are typically purchased by serious campers. This indicates that as camping continues to grow in popularity, the family recreation niche could be a major boom to the industry. Offering more affordable equipment to new campers will also provide value during current economic uncertainty.  

Let’s Chat!

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Business

Innovation During an Economic Downturn

Innovation During an Economic Downturn

If the current economic downturn is crushing your entrepreneurial hopes and dreams, there is good news for you – history has shown that a recession can provide a significant opportunity for innovation during an economic downturn. 

By developing an innovation strategy that foresees a recession, you can help your business survive the hard times as well as find profitable ways to gain a competitive edge. This means going from defense to offense to secure a stronger position in the market.

The Shift to a Low Touch Economy

The COVID-19 pandemic has affected businesses across the world. The US economy has already seen a decline in Q1 and is headed towards another decline in Q2 of 2020. At this time, it is impossible to predict exactly how this health crisis will be resolved and how it will affect the economy long-term.

However, economists have already validated a socioeconomic shift in our country. This has been seen through an increase in remote working, higher demand for e-commerce and home deliveries, an increase in E-health systems, and higher attention for hygiene. This hyper-digital society brings fewer people physically together and has changed safety standards for day-to-day public interactions.  

This behavioral shift is referred to as the Low Touch Economy and is believed to be our post-pandemic economy. Enterprises should take this opportunity to pivot in their business model and innovate to gain a competitive edge on the market.

Innovation during previous economic slowdowns

Amazon

In 2009, Amazon experienced a 28% sales increase during the Great Recession. Amid the slumping economy, Amazon continued to innovate with new products, primarily with new Kindle products. On Christmas Day of 2009, Amazon customers purchased more Kindle e-books than printed books. Amazon innovated during a recession to grow its market share by introducing a lower-cost alternative for cash-strapped consumers.

Mailchimp

Mailchimp originally catered to large corporate clients with yearly retainers. In 2009 during the Great Recession, Mailchimp was forced to change its previous model. The company decided to add a freemium business and its user base skyrocketed from 85k to 450k users in a single year.

Airbnb

In 2007, Airbnb had a humble beginning when Brian Chesky and Joe Gebbia had the idea of renting out an air mattress in their living room in San Francisco. When the Great Recession began the following year, it opened a door to a new opportunity. Airbnb revamped the market of short-term living quarters who were priced out by hotels. In the year 2009, Airbnb received funding from top venture capital firms and experienced exponential growth.

Apple

In 2003, when the Dow was at historical lows over 10 years, Apple continued to invest. When asked why he had not reduced research spending when others in the industry had experienced a slowdown, Steve Jobs stated, “What has happened in technology over the last few years has been about the downturn, not the future of technology. A lot of companies have chosen to downsize, and maybe that was the right thing for them. We chose a different path. Our belief was that if we kept putting great products in front of [customers], they would continue to open their wallets. And that is what we’ve done.”

Let’s chat. Contact us today!

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Business Marketing

Advertising During a Recession

The novel coronavirus has spurred an economic shutdown across the globe. As businesses slowly begin to reopen, there is much uncertainly as to how our economy will respond and if the United States is headed towards a recession.

It can be difficult to remain calm when a recession hits, but history shows brands that continue advertising and marketing during a recession come out stronger in the end. Numerous studies that go back decades point out the advantages of maintaining and even increasing advertising budgets during an economic slowdown. Companies that maintained or grew their ad spending saw an increase in sales and market share during the recession as well as afterwards.

Cereal

During the Great Depression, Post cereal (the industry leader in the 1920s) significantly cut its advertising budget while Kellogg’s cereal doubled its advertising spend. Kellogg’s invested heavily in radio advertising and introduced a new cereal called Rise Krispies, featuring the “Snap” “Crackle” and “Pop” campaign. Kellogg’s profits skyrocketed by 30% and secured the company as the new dry cereal industry leader, a position they would hold for decades to come.

Automobiles

In 1973, America experienced a 17-month recession brought on by the energy crisis. When the U.S. government issued its first miles-per-gallon report, Toyota Corolla ranked second to Honda Civic in fuel efficiency. With Toyota already experiencing strong sales, the impulse was to cut advertising spend when the recession hit. Instead, the company resisted this urge and stuck to its long-term advertising strategy. As a result, by 1976, Toyota surpassed Volkswagen as the top imported car manufacturer in the U.S.

Fast Food Restaurants

During the 1990-91 recession, McDonald’s dropped its advertising and promotion budget while Pizza Hut and Taco Bell took advantage of this decision by ramping up their advertising spend. As a result, Pizza Hut increased sales by 61%, Taco Bell grew sales by 40%, and McDonald’s sales decreased by 28%.

“Rather than wait for business to return to normal, top executives should cash in on the opportunity that the rival companies are creating for them. The company courageous enough to stay in and fight when everyone else is playing safe can bring about a dramatic change in market position.” – Dhalla, Harvard Business Review.

Common misconceptions for cutting advertising in a recession  

  • Advertising would be wasted because people do not have money.
  • Competitors are slashing ad spending, so we should do the same.
  • Money saved on ad spend can help pay dividends.

Reasons to advertise during an economic slowdown

  • The ‘noise level’ in a brand’s industry can significantly drop when other competitors cut back on their advertising spend.
  • Continuing to keep your brand in front of consumers gives the sense of company stability during difficult times.
  • The cost of advertising drops during a recession which creates a ‘buyer’s market’ for businesses.

During an economic downturn, the best course of action is to protect your brand’s investment. To do so, businesses must safeguard the equity accrued through their marketing and advertising efforts. If companies slash their advertising budget and go dark during a recession period, the cost to regain a share of voice in the market once the economy recovers may cost much more than the ad budget cuts initially saved.

As a popular adage states, “When times are good you should advertise. When times are bad you must advertise.”

100 W M.L.K. Blvd
Suite 720
Chattanooga, TN
37402-2551

info@spectruss.com
423.264.2404
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Stay connected with us and receive the latest news and marketing tips from our team.

Stay connected with us and receive the latest news and marketing tips from our team.

100 W M.L.K. Blvd
Suite 720
Chattanooga, TN
37402-2551

info@spectruss.com
423.264.2404
Linkedin Youtube Instagram