It’s been said that there’s no better time than an economic downturn to ramp up your marketing. And while advertising in crisis might seem incredibly counterintuitive, use case after use case throughout time backup this philosophy. Through my years and experience in the business, we’ve also found the same to be true. In fact, putting the pedal to the metal on your marketing when things are slow or declining is one of the best growth tips we can share. So, if you’re wondering whether marketing during a crisis is a good idea, here are some real examples to consider.
Kellogg Takes The Lead During The Great Depression
According to this article, Post was the market leader in the cereal world during the 1920s. But toward the end of the decade when the Great Depression began, the brand reduced its ad budget. Post’s largest competitor Kellogg, however, took the opposite approach. Kellogg actually doubled its advertising dollars, and doubled down on all its marketing efforts. The result? Kellogg’s profits grew by 30% and has been known as the leader in cereal ever since.
Huffington Post Gives Value To Those Affected By Hurricane Sandy
In 2012, Hurricane Sandy brought about enormous devastation, and caused between eight and 10 million people to lose power. Instead of pausing on its content production or pulling back on its marketing, Huffpost Taste put together a soup and no-cook recipe book readers could use before, during, and after the storm. The company also included “practical solutions for being housebound” and delivered value to its customers in a difficult time. While we don’t know the monetary impact of this approach, Huffington Post remained in step with its audience and strong as a business then – and still remains.
Amazon Innovates & Markets Its Way to Growth During the Great Recession
In 2009, the year after the Great Recession hit, businesses were reeling from the effects. But instead of pulling back on its marketing budget, Amazon decided to release – and market – new Kindle products. The innovative idea offered a cost-effective option to buyers with reduced resources, and was part of the reason that the company’s sales grew by 28% that year when so many others were still taking a nosedive.
So, what will you do?
We’ve talked about the benefits of offering value to your customers during a crisis like COVID-19, and hopefully you see the benefits of marketing during a crisis now, too. Not only will continuing your advertising and communications with customers keep you top of mind with them (now and in the future), but you’ll also project an image of stability, certainty, and comfort, which can be priceless.
We wish you well, and are here to help you get your marketing revved up during this time. We also created a “Back to Business” marketing program to help small to medium sized businesses get back on track. Learn more here.