When getting ready for 2017, it is important to know which marketing approach and tactics are going to work best when conveying messages that resonate with the post-Brexit audience. They are the ones that will dictate your further marketing plan and budget allocation.
As Gerard J. Tellis and Kethan Tellis’ study on advertising in a recession indicates*
“Cutting back on advertising during a recession can hurt sales during and after the recession, without generating any substantial increase in profits. Such cutbacks can result in a loss in capitalisation”
The study also suggests that companies that don’t cut their budgets “during a recession could increase sales during and after the recession”. In addition, companies “that increased advertising during a recession experienced higher sales, market share, or earnings during or after the recession.”
Most importantly, the majority of “the studies consistently showed that the strategy adopted for advertising during a recession had effects that persisted for several years after the recession.”
Considering the uncertainty caused by Brexit, marketers need to take a thought-through and well-balanced approach to their marketing strategies. It can’t be stressed enough that now is the time to make the right decision on your marketing budgets, strategy and goals.
To help you get ready for 2017, we’ve put together a guide that looks at the current situation, challenges and future trends, and offers an in-depth overview of how to approach and tackle Brexit. It will support you in making important decisions in these transitional times.
* A Critical Review and Synthesis of Research on Advertising in a Recession – Gerard J. Tellis and Kethan Tellis