There is some interesting information in this Forbes article on why you should continue to advertise during a recession. I know, you are thinking these are just advertising and marketing firms that want to keep making a buck.
Well here’s some anecdotal proof that increasing ad spend in a weak economy actually works:
1) We increased pay-per-click ad spend for a local IT company this month and their leads have soared. Plus their cost per click is down due to a decrease in the competition’s budgets.
2) We increased online advertising for our own firm. In a Google Adwords campaign, we were able to grab the top spot for a competitive term due to competition pulling out. That ad landed us one of our largest clients this month.
So don’t spend unwisely, but think about actually INCREASING your budget to outmaneuver your competition this month.