Mystic Mike reveals the secrets to not only surviving but thriving in a recession…
With Britain facing the deepest recession since records began, brand owners have big decisions to make – one of the most important is whether to cut marketing spend or continue to invest.
Evidence has found that companies that bounced back strongly from previous recessions did not cut marketing spend and in some cases, increased it. Recessionary periods can provide fertile grounds for marketeers to grow market share, but only if they think long-term.
We created this humorous short film with Mystic Mike offering invaluable advice to help you navigate this tough time, focus on your reputation and smash the recession:
The academic’s viewpoint
Binet and Field’s study of the 2008 recession found that brands who increased marketing investment are better placed for long-term profitability and gained a larger share-of-voice.
Interestingly, one third of consumers have punished companies for not responding well to the pandemic. Edelman’s research discovered 81% of people claim they must trust a brand to do what is right.
But how can you do what’s right, whilst defending your share of voice and visibility?
- Adjust your content to reflect the zeitgeist and demonstrate humanity, solidarity, generosity and compassion
- Provide entertainment and give back to the community
- Keep building your reputation
“Your reputation’s for life, not just the recession.”Rick Guttridge
If you’d like to discuss how any of our globally recognised services can help your business thrive in a recession, email us or call on 0161 839 1986.
Dont just take our word for what we can do for your brand, see our range of peer reviewed awards and hear for yourself what a client thinks of us: