Now is the time for marketers to invest and lead with purpose.
“Making the case for your brand (especially now)”
We face unprecedented times, with unparalleled pressures on businesses, not-for-profits and society at large. How should marketing leaders react to today’s pandemic-induced downturn? Cut back or double down? Change tactics or stay the course? They’re all options.
History tells us that the brands that are able to invest smartly through periods of recession and depression can grow revenues, market share and impact. In “Making the case for your brand (especially now)” we’ve pulled together resources including:
- Data from several peer-reviewed studies indicating the impacts of marketing investment during recessionary times.
- A set of guiding principles for activating your brand voice now.
Below you’ll find additional resources that may be helpful as you set and defend your marketing budgets and determine priorities. We welcome you to share these materials within your organization or beyond.
Getting it right: a discussion with Justin Angle
PartnersCreative’s Strategy Director Kevin Keohane and Creative Director Sean Benton were recent guests on an episode of “A New Angle,” a podcast hosted by Justin Angle, professor of marketing at the University of Montana. They talked about the challenges and opportunities of marketing in difficult economic times, and also touched on examples of companies that have gotten it right (and companies that have missed the mark). Give it a listen.
Want to talk it through?
We invite you to set up a one-on-one consultation with Kevin Keohane. Just select a time on the calendar below, and let us know a little about the challenges you’re facing in your marketing, internal engagement or other communications initiatives. We’ll email you a Zoom meeting invitation to talk with Kevin. These conversations are at no cost.
Marketing in a recession: additional resources
Here are a few more articles and resources that may help as you work to determine the messaging, tactics and spend that will be most effective for your organization at this time.
- “The best marketers will be upping, not cutting, their budgets” (MarketingWeek, April 2020, $)
This is the article that inspired our work on “Making the case for your brand (especially now).”
- “Roaring out of Recession” (Harvard Business Review, March 2010, $)
An analysis of the long-term impacts of cost-saving and investment moves during recession.
- “Research on Advertising in a Recession: A Critical Review and Synthesis” (Journal of Advertising Research, September 2009, $)
A thorough meta-analysis of academic research on marketing during recessions.
- “Budgeting for the Upturn—Does Share of Voice Matter” (The Nielsen Company, August 2009)
Demonstrates the ways that excess share of voice can impact business results.
- “Brands & COVID” (BBH, April 2020)
A framework for how to think about and act in response to the needs of customers. (PDF download)
- “How to market in a downturn” (Harvard Business Review, April 2009, $)
An exploration of the emotional dimensions of brand advertising in a downturn.
- “Looking Back at the Great Recession, as the World Faces a Coronavirus Pandemic” (Emarketer, March 2020)
More useful statistics to help frame your approach to marketing.
- “What marketers and agencies might expect if a recession happens” (AdAge, September 2019)
A prescient overview of the ways in which a downturn may impact the advertising and media industries.
- “7 Strategies for B2B Marketing during a Recession: The Definitive Guide” (Marketo, June 2008)
Though this speaks to the circumstances of more than 10 years ago, much is still relevant for B2B marketers during recession.