Tuesday, March 25, 2008

Marketing during a Recession

An adage.com article (http://adage.com/article?article_id=125878) focuses on how companies should consider altering their messages during a recession. If people are in "fear mode," then a company's sales and image could suffer if it sticks with optimistic or aspirational messages. Instead, reassurance, empowerment and value should be emphasized. For example, the opportunity for consumers to go find information themselves (say, online! i.e. empowerment) are highlighted as potentially successful tactics.

Three interesting issues come to mind. Should all companies change their tactics? How prepared should those that do be to change their message again when the recession is an acknowledged reality? Finally, how will a recession affect online ad spend?

First, it will be interesting to see how companies that often use humor (e.g. Bud) respond to the economic downturn. Will people not be in the mood to laugh? Or is that just what they're looking for? Second, it seems likely that companies will have to keep a very close watch on the mood of the consumer and respond to the stages of recession denial, acceptance etc. And perhaps, online marketing will benefit from the recession. Perhaps more targeted, and maybe less expensive, marketing will be appealing to advertisers. TBD...

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