Oxygen360’s Managing Director Cameron Jurd reflects on the advantages of long term advertising
As the year starts again it seems we are faced with some uncertainty, but is that a reason to press the panic button? I think not. Savvy marketers have for decades shown us that to only advertise when you’re riding the economic wave demonstrates short term vision. Many advertisers have created long term success by building their comms foundation during a downturn.
Remember, recessions don’t last forever! In fact approx 75% of recessions don’t last longer than a year so any cut in marketing will most likely result in an improved cash position in the short term but what about the long term?
Your savvy competitors will most likely bounce back at a faster rate as they have still been talking to customers. The allure of the sales promotion is often explored during these times but this can lead to consumers only engaging during a sales promotion.
You will need to change your comms, talk to the consumer using language that empathises with their change in economic circumstances but remember the friend who is there with you thick and thin is the one you stick with.