Yeah, the economy is sucking wind. But Ogilvy North America notes that while others are ducking and covering, the smart and the bold are using the media vacuum as a golden opportunity to launch new products and/or grab market share. Ogilvy is selling the concept to its own clients with a white paper entitled "Doing More With Less: A Point of View on Marketing in a Recession."
“This downturn is actually an opportunity to innovate," advises Colin Mitchell, Chief Strategy Officer for Ogilvy North America. "History shows many brands and companies have been successfully launched during recessions while others have leveraged tough economic conditions to gain significant market advantage." He continued, "While some companies do face real cash flow issues, the option of winning marketing share in a recession by smart spending is open to most. Making do with less involves not just setting a competitively sensible budget but using it more imaginatively in channels from digital to retail."
RBR/TVBR observation: This advice should be shared with every client and potential client you can possibly reach.