Readers in the London area may have noticed a clever Financial Times advertising campaign that recently appeared on billboards in the capital. The billboards look like they have been stripped of their posters, leaving behind fragments of poster paper and paste. In one corner there's a small area in the FT's trademark salmon saying "Global downturn. What's the first mistake businesses make?" The copy directs us online to find out more at www.ft.com/budgets.
No matter whereabouts in the country you're located it's worth having a look at this microsite, as it contains a wealth of information that provides useful ammunition for client discussions during these recessionary times. The upshot of the FT's campaign is this: businesses that make knee-jerk decisions to cut advertising and marketing spend during a downturn are making a potentially disastrous mistake. Naturally, the FT is also plugging the benefits of advertising in its own products, but that doesn't diminish the relevance of the message.
The pink 'un has pulled together research into downturns going back 90 years (yes, 90), showing that firms that keep up promotional activity when the going gets tough are the ones that subsequently thrive when the economy picks up again. Who, for example, has heard of Post breakfast cereals? Apparently they were right up there with Kellogg's before the depression of the 1930s. Kellogg's maintained its marketing spend, and Post did not. The rest, as they say, is history.
Similar examples, and the other stats pulled together by the FT, will be helpful for print service providers who want to be on the front foot in their next client meeting. Now, more than ever, businesses need to keep on selling things and print has a proven track record of efficacy in this regard.