As the saying goes “When times are good you should advertise. When times are bad you must advertise.”
We’re all expecting a significant and lengthy economic recession to follow in the wake of COVID-19’s unprecedented impact on our lives – the first recession in over a decade. With all recessions comes cutbacks, as businesses, wary of declining profits turn towards marketing and to reduce advertising expenditure. Last time around, spending dropped in the United States by around 13%. This time, we expect it to be even higher. What any recession also provides however, are opportunities to those businesses willing and able to make gains in this environment.