We have long argued (well we would, wouldn’t we) that reducing your marketing spend during recession or economic downturn won’t actually do you any favours over the medium to longer term and today’s (28th April 2010) special report in the FT backs our assertion with knobs on! (www.ft.com/reports/global-brands-2010)

The fact of the matter is that those businesses which truly have confidence in themselves will maintain or increase their marketing budgets and do all they can to protect their brand in tough times. They will also maintain a strong grip on marketing advances and customer/consumer requirements/trends in the face of economic uncertainty. As a result, they will come out stronger and be far better placed to take advantage of any ensuing upturn.
There will be businesses in your sector which will be wringing hands, crossing fingers and begrudgingly setting aside some resource for marketing. Our advice is not to go there – follow the example of the Coca Cola’s and McDonald’s of this world; keep the faith and keep one step ahead.

But don’t just take my word for it – as Paris Hilton advises: “It will work. I am a marketing genius.”

Richard Parsons