All the signs are here that we are in a recession. My daily visit to CNN.com reminds me, the voicemails from my ad reps with their “deals” remind me, the multitude of everlasting For Sale signs on my street remind me.
So I decided to do my part and go shopping. I bought some really sweet vintage Ts for the summer, a great dress for a wedding I have to go to, a cute pair of cropped pants and a chunky necklace. I did these things because the store I went to, a store I LOVE to shop at but don’t frequent, just had an ad in a local magazine. This ad inspired me to go shop.
My shopping spree made me think about marketing. Why is it when a recession hits or times get tight, companies immediately cut their marketing budgets? Out go the ad dollars, tighten the PR budget, cut out trade shows. Why does everyone think, “If we cut it, they will still come?” If I had not seen that ad, I wouldn’t have purchased those cute new Ts. The shop wouldn’t have had that sale.
So are sales down because budgets were cut or are budgets cut because sales were down? And what if your competitor didn’t cut their budget? Did they get your sale?
The way I see it is the economy doesn’t stop; consumers may not spend as much but they still spend. At least some of us do.
A recession is an opportunity to dig in and make a stance. It’s a chance to push your marketing messages, because those who are listening just might need some retail therapy.
posted by KDL