Advertisers can win in recessionary times with performance branding
In the current climate of economic uncertainty, with the threat of recession looming, many businesses are facing real financial pressures that are putting an intense scrutiny on all discretionary expenditure.
Within that discretionary mix of course, sits the marketing budget, and CMO’s are facing a tough challenge to hold onto previously committed spend levels. Anthony Fageot, director of growth at Bench Media, explains how advertisers can win in recessionary times with performance branding.
There is a body of work CMO’s can draw on to defend their promotional spend, most notably from people such as Peter Field who has presented a mountain of evidence that those that hold their nerve and maintain spend, or their share of voice, particularly their brand-centred communications will emerge from these dark times with both greater market share and greater profitability.
He sees recessionary times as presenting opportunities and encourages marketers to “Seize your marketing opportunity” citing such examples as T-Mobile, Heinz, Cadbury, Virgin Atlantic and Hovis who all maintained their commitment to brand advertising through the 2008 recession and emerged more strongly for it.
