Although the times of the Great Depression were awful for some, many businesses made economic strides. The very nature of the depression itself was an economic slingshot for many businesses. Consider this….you put together an AGGRESSIVE marketing plan and the competition cuts back – you win the audience.
The fact is consumers don’t stop spending, they look for better deals and ways to save $$$. Why take your business out of the spot light? Take advantage of the times by putting yourself in the “best deals”, “cost saving” spot light and let the competition fall off the radar. You will increase consumer visibility, increase business opportunities, and once the economy turns around you will have gained consumer loyalty. Consider this – if you in fact cut your marketing budget, how will your consumers find you? You have severed your business lifeline and future hope of potential growth.
Companies who not only survived but did well and grew during the Great Depression are those who continued to act as though there were nothing wrong and that the public had money to spend. In other words, they advertised.
As a reminder:
- Procter and Gamble – During the Great Depression they pushed Ivory soap.
- Intel – In 1990-1991 during economic difficulty they pushed out the campaign “Intel Inside”.
- Wal-mart – Walmart launched their “Every Day Low Prices” campaign in 2000-2001.
Don’t fall off the spot light!!
Cheers,
Brandon
