Recesssions are scary to think about and can have disastrous effects on consumers and businesses that aren’t prepared. But for marketers, recessions and eceonomic slowdowns can often be periods of great opportunity. Advertising Age has been a frequent proponent of the opportunities that recessions can provide to marketers looking to gain market share, enter new markets or reach new customers, and they’re saying it again. (“Innovate in a Recession? Yes“) Gains made during recessions are cheaper that those during boom years, and when the market swings back (and it always does), those small gains can turn in to big advantages. The key point of the article is “companies that spent more on innovation during the downturn saw return on capital employed rise 23.8% during the recovery, compared with 0.6% for those that slashed spending.“
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