It’s easy to think that in down times, marketing should be the first to go. The sentiment goes all the back to the 1920s when Post was the leader in the ready to eat cereal market. The depression hit, and they did just that – Post pulled the plug on their advertising efforts.
At the same time, Post’s fiercest rival, Kellogg, saw the downturn as an opportunity to gain market share and doubled its advertising budget. Just like that, Kellogg’s newest product, Rice Krispies, exploded with corporate profits surging by 30%.* They haven’t looked back since.
Though times have changed, the fundamental principle of advertising during an economic downturn has stayed the same – Marketing in a recession is the sure-fire way to gain market share.
In fact, with the advent of digital advertising, companies have the ability to be even more thoughtful, flexible, and strategic in their marketing efforts.
Here are five reasons why digital advertising makes the most sense in today's world – especially while users are glued to the Internet:
- It's relevant - Today's global workforce is remote, meaning all business is being conducted online. Digital communication has never been more prevalent.
- It’s flexible – Budget is entirely dictated by your needs, and you have complete control over how much you spend, and when the ads run.
- It’s targeted – Digital advertising allows you to target specific geographies and demographics with tailored messaging to each. You can leverage success and pivot strategies when needed.
- It’s sticky – Search ads are one thing, but with remarketing, you can reinforce the strength of your brand with ads only visible to people who have visited your site.
- It’s measurable – There's no ambiguity about the effectiveness of your campaigns. Data doesn't lie and with your campaign analytics, you can track your cost of customer acquisition to the penny.
What are you doing to stand out in these uncertain times?