Advertising in recession – what messages work
In tough economic times companies are starting to focus their advertising on messages that stress continuity, longevity and survival despite bad economic situation. Take a look at the latest ad from Bank of America:
Key messages used in the advertising that tries to refocus audience toward positive outcome include messages of “no matter what”, “still going” etc.
Great research on this subject was conducted by BusinessWeek.
Its a consistent effort by top brands to indicate survival of the fittest and at the same time to aggressively capture new customers from companies that do not do the same.
The same approach was in fact taken by many companies during the Great Depression when many organizations completely stopped advertising and brands started to loose ground. At the same time more aggressive companies like top auto makers, etc went after consumers and established solid trust that lasted long time. We may be witnessing the same trends 70 years later.
Should you advertise in a recession?
Absolutely yes! It is best not to stop but rather expand your marketing and advertising during a recession and try to think creatively how to open new markets, aggressively pursue clients that may loose loyalty to other brands and try to establish your firms foundation for years to come.