You might think that business are spending less on advertising during the down turn. Think again. Financial, insurance and banking, all pumped more ad dollars into the system.
Meanwhile, more VC‘s are of “angel” nature (this explains why Facebook can afford taking its time before next year’s IPO), the 21st century version of Independent Film producers Model.
Just as we need to see growth, we all read about Google and ATT facing anti-trust hearings.
Maybe they should pump more dollars into PR’s and ads e.g. “we are the good guys!” But Yelp is yelling for help.
Talking about ads. Last week, we saw something so “black Friday’ish” at Target.
Its site crashed. Its stores ransacked.
Wow!
What recession?
It is to show that Costco and Target are reading the signs of the time right.
The former gives people peace of mind, in bulk.
The later, affordable clothing, in style (its demographic target: stay-at-home moms but want to get in with the action – fashion wise).
Ad has always been at the forefront (even during the time of war “Uncle Sam wants you”).
It nudges and leads the public opinion. It helps Netflix CEO draft a written apology (e-mail blast).
It reinvents, renames companies and divisions (Netflix and Qwikster, streaming and snail-mailing) and erases (un-branding) names (remember Cingular?).
It could even handle personal “exit strategy” i.e. NYT obituary (of Mondale’s and Ted Kennedy‘s daughters).
We need copy writers. We need ad men and women.
They persuade, inform and entertain us, even during the down turn.
It’s so counter-intuitive for companies to spend more when they know consumers are spending less. When we come out of this Recession, advertising will be reaping a huge reward both on and offline. Advertising has proven to be resilient across multi-platforms : successful companies rely on ads by choice, suffering companies rely on ads by default (can’t afford opportunities cost). Ads during the downturn.
Thang Nguyen 555 