According to the Institute of Practitioners in Advertising, "A brand judged to be on the way down because it has fallen silent, will very rapidly see this manifested in word-of-mouth, which will accelerate the perception of failure."
This statement is backed by findings from the Harvard Business Review. It was found that brands that spent on marketing and awareness during an economic downturn increased their overall market share. In fact, they came out stronger than those who cut back.
The question for every marketer is how to apply this wisdom to their own brand and business challenges. Brands who can figure out how to maximize their marketing potential in times of uncertainty will enjoy a distinct advantage in the long term.
Join our complimentary webinar to learn more about this and other topics, such as:
- exploring how to make marketing profitable for businesses in times of crisis.
- pivoting your marketing efforts to get the most out of your investments.
- creating a social strategy that connects your brand with the community.
- keeping your marketing team motivated and productive throughout it all.