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While marketers have been told to slash budgets and ride out the recession before starting to spend again, we've run across some staggering facts that would state otherwise.
Did you know...
Cutting your marketing budget during a downturn has a negative impact on your business for up to three years after the recession, even if you return to your pre-recession spending the year after the cut?
Increasing your marketing spend during a recession generally contributes to improved financial performance for up to three years after the recession is over?
According to a recent survey, it appears several marketers have gotten the word. 73% of marketers surveyed last month by The Association of National Advertisers said they plan to increase spending prior to the recession ending. 43% said they would begin spending three months before it ends while 30% said they would start spending six months prior to the end of the recession.
With the latest estimates from Wall Street Journal experts stating the recession could end as soon as August, maybe now is the time to ramp up your marketing and lead generation efforts. The impact could be long-lasting.
Tags: marketing budgets / economy / cutting budgets / marketing strategies