An informal poll of a cross-section of marketing executives confirms just what media veterans have come to expect: Companies facing difficult economic conditions are going to take the paring knife to their advertising budgets. That’s what 53% of the respondents queried by Advertising Age believe, at any rate (and that translates to 53 marketing execs, since the small scale informal poll was limited to 100 subjects). And for another non-surprise, 87 (or 87%) said they are already “feeling the pinch.” 10% of that 87% feared they may lose 30% or more of their budget.
RBR/TVBR observation: Victory will go to the bold companies that take advantage of the airwaves while others are abandoning them. Just because sales are down, skittish advertisers, is no reason to doom your market share to the same fate. It is now incumbent upon the radio and television sales forces to remind every client that this is a major opportunity for those willing to go against the flow and take advantage of the vacuum.