How to get over Financial Crisis Fatigue Syndrome – try some good news for a change
October 30th, 2008 by Tom Francoeur
Most of us by now have FCFS – Financial Crisis Fatigue Syndrome. You can hear it all around you – moans and groans on a daily basis from office doorways and cubicles as the stock market goes on another terrifying roller coaster ride and ‘breaking news’ alerts detail the latest round of company closings and lay offs.
So, yesterday, I was pleasantly surprised to see my BtoB Magazine news alert pop into my inbox with the subject line that some marketers plan to increase spending in 2009. Yes, I said increase. Let me repeat – increase.
Joe Biden-speak aside, this is refreshing news. The story by Kate Maddox looks into a recent survey of 1,200 marketers and agency executives that was conducted by the Association of National Advertiser’s during the organization’s annual conference held in Orlando, Florida last week.
The top level findings:
• 26% of respondents said they planned to increase marketing spending in 2009 by more than 10%
• 28% said they planned to hold their spending stable
• 14% said they planned to decrease spending by less than 10%
• 19% said they planned to decrease spending more than 10%
Also interesting to note is the study’s findings regarding the marketing vehicles marketers expect to offer their brand the greatest opportunities for growth in 2009.
Social media integration was the top response (28%), with grassroots, viral public relations taking the second position at 19%, followed by these other marketing channels:
• Traditional 30-second TV spots (17%)
• Web advertising (16%)
• One-page advertisements in a newspaper/magazine (7%)
• Direct marketing (7%)
• Radio (5%)
Topaz Partners has always had a core group of clients providing technologies and services for the advertising and marketing industries, so we’re heartened by this news.
And if you’re following Ad Age, Brandweek, iMedia Connection and Mediapost, you’ve seen all of the articles published this year urging companies not to react to the economic downturn by taking a scalpel to marketing and PR programs, but instead buck the trend and make the bold move to market more aggressively during these challenging times.
A number of Topaz’s client executives have published insightful articles on the importance of marketing during a downturn, including Huw Griffiths, marketing director for email marketing service, Campaigner, and Jere Doyle, CEO for Prospectiv, a provider of online lead generation services and solutions for consumer brands.
I’m sure that as I’m writing, more gloom and doom news is breaking. I bet another study has already come out that provides a much grimmer outlook. But for now, I’ll take the ANA study as a sign that better days are coming and that some marketers are even taking the advice of all of the experts out there.
Now is not the time to cut and run, but to get the word out about your brand value – loud and clear.
This entry was posted on Thursday, October 30th, 2008 at 1:17 pm and is filed under Marketing, News & Commentary, PR, Predictions. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.













