Budget cuts. Layoffs. Rethinking your entire marketing strategy? The economy can be confusing. How marketers should respond to economic downturns can be equally difficult to navigate. Research shows brands that maintain or increase ad spend during an economic downturn perform better long term. Of course, that’s easier said than done. Angela, Rob, and Elena share advice on how marketers can use economic uncertainty as an opportunity to step into leadership roles and even grow market share for their businesses. And how to get others on board by using data to defend your decisions.
Topics covered:
- [00:58] How Hyundai grew market share during a recession
- [4:10] What is happening with the economy?
- [9:58] How are advertisers reacting to economic uncertainty?
- [14:48] How CMOs can step into leadership roles during a crisis
- [16:18] Should you advertise during a recession?
- [18:25] Avoiding tone-deaf messaging
To learn more, visit
marketingarchitects.com/podcast.
Resources:
2023 The Conference Board Article MarketingProfs Article 2023 The Undefeated Marketing Podcast 2023 Forbes Article Get more research-backed marketing strategies by subscribing to The Marketing Architects on Apple Podcasts, Spotify, or wherever you listen to podcasts.
