In the 1991 recession, McDonald’s dropped all brand marketing.
Pizza Hut kept their marketing going through it.
As the country came out of recession, Pizza Hut sales grew by 61%.
McDonald’s sales dropped by 28%.
In the 2008 credit crunch, the research company now known as Kantar reported that 60% of brands that stopped advertising during that major economic downturn saw brand use decrease by between 24% and 28%.
However, some of the brands that remained in the public eye saw as much as a three-digit increase in recognition.
Global Radio, the company that owns brands like HeartFM, LBC, Capital Radio, 253,000 outdoor static and digital advertising sites, plus DAX, the largest digital audience targeting system in the UK, have recently seen an increase in daily digital listening of 15%.
At the same time LBC radio, Britain’s biggest commercial news talk brand, has seen a 43% increase in daily digital listening reach.
Brand marketing lessons learned
The lesson is this: as long as you can afford to, you should keep marketing through a recession.
If you stop marketing a competitor will take your space and market share, which will have dramatic results in sales and share later on when things pick up again.
Some say that the economy “will come roaring back” and others “that it will take longer”. One certain thing is that when it does, your brand or business needs to out there with it.
Changing media habits
Where our clients have continued their e-marketing and social media campaigns we have seen consistent results or improvement. As countless people are now working from home, think about what are they reading, listening to and where are they hanging out.
We’re finding that they are reading and clicking on emails, are increasingly active in social media and as the stats above demonstrate, they are consuming targeted radio advertising in fast-increasing numbers.
Profit from social media, email marketing and audience-targeted radio advertising
If you would like to find out more about how you can build your brand awareness, keep in touch with your customers, or find new prospects using any media, please give us a call on 01246 431572 or drop me an email here.
Source: LBC 06.04.20