Australia is about to experience its first recession in 30 years and the accepted view is that it is going to be a bad one.
But in every recession or economic crisis since the 1920s there are examples of businesses pulling back on marketing to cut costs and then being overtaken in terms of market share by companies increasing marketing spend.
Rocket Agency co-founders David and James Lawrence have 15 examples of marketers getting it right since COVID-19 turned everything upside down.
"If you get your marketing right and then double-down on it, history tells us that you will increase your market share. In fact, there is no better time to increase market-share than in a recession," Rocket Agency co-founder David Lawrence says.
"The inverse is also true: today’s marketing is tomorrow’s sales, so beware the company who cuts back on marketing right now.
"We believe great marketing is the key to weathering the storm and coming our stronger on the other side. It’s certainly the approach we’re taking with our own business."
The digital agency has published a guide, The Recession Marketing Manifesto, which dives into these ideas more deeply.
It's also running webinar, 15 Brilliant Digital Marketing Examples For Today’s Challenges, Thursday, May 21.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.