advertising in uncertain times

US-imposed tariffs and future uncertainty have again landed us in a period of economic upheaval. As a result, advertising budgets are being challenged, and marketers are rethinking strategies.

A natural response to economic uncertainty is to retreat. However, research consistently shows—and experts continue to advise—that cutting ad spend comes at a high cost to brand health and business results in the long-term.

To that end, we have put together a collection of insights from industry experts to help you navigate in this uncertain time, and to ensure that the brand decisions you make today set you up for success tomorrow.

 

5 keys to maximizing profit in tough times (Les Binet)

In light of the current economic uncertainty, we’re resurfacing this helpful and straightforward webinar with Les Binet, who shares key steps to maximize your marketing budget—and your returns—in tough times. It’s a powerful reminder that advertising is an investment and a critical tool in driving incremental profit.

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how should I advertise through tariffs? (VAB)

The VAB in the US have put together a report that outlines why continuing to advertise is the strongest move despite current economic uncertainty. The report includes a review of new-to-TV brands that launched campaigns during the COVID period and saw outsized results.

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lessons for advertising in a recession (GTVG)

This Fast Fact document of top lessons for marketing in a recession—developed with the Global TV Group—includes an overview of historical case studies along with a number of Canadian data points care of Peter Field’s analysis of the Canadian Effies.

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Ritson’s recession playbook: 9 steps marketers should take to survive the dark times ahead (Mark Ritson)

When the COVID pandemic threatened to kick start a recession, Mark Ritson advised marketers to continue their brand-building efforts; his advice from that time is relevant again today: “You maintain the long of it because its impact is delayed but substantial and it will kick in exactly when you need it as the recession ends.”

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advertising in a recession – long, short or dark? (Peter Field)

Peter Field’s guide to advertising best practice in a recession; April 2020

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a marketing guide: what to do in a recession (Byron Sharp)

Bryon Sharp’s top two “Key Actions” are (1) maintain your marketing support (otherwise you’ll have to spend more when the recession ends trying to regain your momentum), and (2) don’t try to price promote.

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advertising through a recession (Ebiquity, April 2020)

A detailed and insightful report from Ebiquity. Key takeaway? “Although it is tempting for brands to cut ad spend during a recession, the evidence from recent periods of sustained economic decline suggests that it is a false economy to do so.”

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the drivers of marketing effectiveness – 7 principles of success (Peter Field)

In this insightful and practical presentation, Field presents evidence—featuring some new Canadian data—showing the role brand building plays in driving effectiveness, and the top considerations for marketers when developing a campaign, from building mental availability and engaging emotionally, to the importance of reach and the right media balance.

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don’t cut your marketing budget in a recession (Harvard Business Review)

Companies tend to cut marketing in a recession. But firms that maintain their marketing spend while reallocating it to suit the context—be it in product developing, advertising and communication, or pricing—typically fare better than firms that cut their marketing investment.

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A marketing guide: what to do in a recession (Ehrenberg-Bass Institute)

This paper from Ehrenberg-Bass provides guidance to marketers about what to do in a recession.

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what happens if I stop advertising? (WARC)

Maintaining advertising investment matters: Most of advertising’s impact comes over the long term (more than six months), per Ebiquity research, and so switching off advertising for more than a short period can be damaging far beyond just brand metrics but to share of voice and—by extension—market share.

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the best marketers will be upping, not cutting, their budgets (Mark Ritson) 

It may seem like a paradox, but recessionary periods actually provide fertile grounds for marketers to grow their brand’s market share if they’re prepared to think long-term.

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why it’s important to keep advertising during a downturn (Peter Field)

An excellent overview of the key learning from our Peter Field webinar care of The Message.

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the secret to surviving a recession? keep advertising – here’s how (the Drum)

Marketing during a recession is a delicate balancing act: You have to drive revenue and meet your bottom line, but you also want to be sensitive to the current reality.

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building brand equity in an economic downturn: five tactics beyond numbers (WARC)

Five tactics to protect marketing budgets when facing an economic downturn.

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what should ads look like in the time of recession? (Orlando Wood)

Orlando Wood writes about the creative that is resonating most during this crisis, and the 3 questions marketers should ask themselves about advertising now.

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can advertising drive incremental results during high inflation? a cross-category analysis (WARC)

Using natural experiment frameworks and publicly available data, NBCUniversal Media wanted to test one idea popularized at the height of pandemic-related supply chain problems: does advertising drive incremental results during record high inflation?

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maintaining share of voice is key in recessions (WARC)

Maintaining share of voice is critical for advertisers during a recession, both to stay front of mind among consumers in a downturn, and in order to position their brands in an optimal way for the recovery.

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brands’ behaviour now will affect future consumer buying decisions (Edelman Trust Barometer report)

Consumers want brands to do everything in their power to protect the well-being of their staff and suppliers (90%), and prefer brands take a traditional approach when it comes to communication.
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what happens if I stop advertising? (WARC)

This report looks at the long and short-term consequences of a brand going dark.
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what brands can learn from history (and how this is a little different) (Peter Field)

Peter Field says now is not the time to take the foot off the gas on ad spend.
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your advertising survival plan (the Drum)

The Drum offers advice on what advertisers should focus on right now.
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advertising in a downturn (IPA research)

Should you advertise in a downturn? Research from the IPA suggests that you should.
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marketing your way through a recession (Harvard Business Review)

Brands that increase advertising during a downturn can improve market share and return on investment.