5 keys to maximizing profit in tough times
5 keys to maximizing profit in tough times
These are challenging times for marketers – over the past couple of years we’ve seen supply shortages and rising inflation, not to mention the aftershocks of the COVID pandemic. Budgets are under pressure given economic uncertainty. The good news is there are several key steps you can take to maximize your marketing budget – and your returns – and help demonstrate that advertising is a critical tool in driving incremental profit.
The key takeaways:
- Don’t panic! Recessions and downturns can be difficult, but they also present plenty of opportunities for business growth.
- When it comes to increasing profitability, brand promotion outperforms price promotion.
- Advertising is an investment and the key to driving incremental earnings.
Watch Les Binet’s presentation for a comprehensive macroeconomic view of profitability in times of uncertainty and how to assess the five key factors for maximizing profit: growth prospects, advertising expenses, profit margins, risk, and advertising effectiveness.
related research
the long & the short of it |
effectiveness in context |
speaker
LES BINET
Group Head of Effectiveness, adam&eveDDB
Les Binet is Group Head of Effectiveness at adam&eveDDB and is recognized as an expert in econometrics. He has won more effectiveness awards than anyone else in the UK. In 2014, the IPA awarded him The President’s Medal, the highest honour it can bestow, in recognition of his achievements. He is well known for his published works with fellow effectiveness expert Peter Field, including The Long & The Short of it, Media in Focus, and Effectiveness in Context.