companies that completely dashed their marketing budget
Posted: Tue Dec 03, 2024 9:10 am
A study examining 600 brands during the 1980 to 1985 recession revealed that:
Brands that maintained or slightly increased their marketing efforts were rewarded with significantly higher sales after economic recovery than
Businesses that opted for aggressive marketing tactics during the recession secured 256% higher sales in post-recession years than brands that stopped advertising altogether during the recession.
An analysis of marketing trends surrounding the 2008 recession discovered that 60% of the austria business email list brands that completely paused their marketing efforts saw a 24% decrease in brand use and a 28% decrease in brand image.
If you want to become a recession proof business, maintaining your B2B marketing strategy would be wise despite 2023’s relatively bleak economic predictions.
#2 Centering value in campaigns
As B2B purchasing teams become more heavily saturated with Millennials and Gen-Z, their processes for choosing vendors and service providers become more value-focused.1 Current reports suggest that in 2023, purchasing teams want unique value propositions to be at the forefront of sales conversations.
So, a marketing campaign that centers value has already taken hold in 2023, and in light of recession-era conservative spending trends, this focus may continue in B2B advertising in Q2 and Q3.
Brands looking to showcase value in their advertising efforts might consider:
Emphasizing the value of their services by calculating how much their existing customers stand to earn or save when they purchase a product or service.
Developing a pricing model that highlights customers’ value in relation to cost (like a tiered pricing strategy).
Creating and publishing case studies that demonstrate how their existing customers have saved or earned after purchasing a product or service.
Brands that maintained or slightly increased their marketing efforts were rewarded with significantly higher sales after economic recovery than
Businesses that opted for aggressive marketing tactics during the recession secured 256% higher sales in post-recession years than brands that stopped advertising altogether during the recession.
An analysis of marketing trends surrounding the 2008 recession discovered that 60% of the austria business email list brands that completely paused their marketing efforts saw a 24% decrease in brand use and a 28% decrease in brand image.
If you want to become a recession proof business, maintaining your B2B marketing strategy would be wise despite 2023’s relatively bleak economic predictions.
#2 Centering value in campaigns
As B2B purchasing teams become more heavily saturated with Millennials and Gen-Z, their processes for choosing vendors and service providers become more value-focused.1 Current reports suggest that in 2023, purchasing teams want unique value propositions to be at the forefront of sales conversations.
So, a marketing campaign that centers value has already taken hold in 2023, and in light of recession-era conservative spending trends, this focus may continue in B2B advertising in Q2 and Q3.
Brands looking to showcase value in their advertising efforts might consider:
Emphasizing the value of their services by calculating how much their existing customers stand to earn or save when they purchase a product or service.
Developing a pricing model that highlights customers’ value in relation to cost (like a tiered pricing strategy).
Creating and publishing case studies that demonstrate how their existing customers have saved or earned after purchasing a product or service.