Did you know:
Research has shown that companies who maintained their advertising spend during a downturn, went on to increase market share by 2.5 times the average?
Companies who maintain their advertising presence, retain and attract customers.
The average person spends a whopping 32% of their day listening to the radio? Radio is the strongest performing medium from morning to evening.
Recessions Provide a Perfect Opportunity for Advertising to Do Its Job - Increasing Short and Long Term Sales and Profits
In a study of U.S. recessions, McGraw-Hill Research analyzed 600 companies covering 16 different SIC industries from 1980 through 1985.
The results showed that business-to-business firms that maintained or increased their advertising expenditures during the 1981-1982 recession averaged significantly higher sales growth, both during the recession and for the following three years, than those that eliminated or decreased advertising.
By 1985, sales of companies that were aggressive recession advertisers had risen 256% over those that didn't keep up their advertising.
Increasing Market Share
A recessionary market can provide an opportunity for businesses to build a greater share of market through aggressive advertising. According to The Strategic Planning Institute of Cambridge, MA., businesses that reduce media expenditures suffer loss of market share: people assume that if a company has withdrawn its regular advertising, it's in trouble.
One major business-to-business advertiser summed it up best: "When times are good, you should advertise. When times are bad, you must advertise."
***Materials compiled from a variety of sources, including America Business Media, McGraw-Hill, Penton Research Services, Coopers & Lybrand
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