This is one time where it’s VITAL that you don’t follow your instincts. During a recession, it’s common for businesses to cut back their advertising and marketing expenditures. But what you should be doing is the exact opposite.
This has been proven countless times throughout history. According to David Ogilvy, the “Father of Advertising”, “Studies of the last six recessions have demonstrated that companies which do not cut back their advertising budgets achieve greater increases in profit than companies which cut back.” He goes on to say, “In a survey of 40,000 men and women involved in the purchase of 23 industrial products over five years, it was found that share-of-market went up in bad times – when advertising was continued.”
