When times get tough you can choose: Hit the brakes or step on the gas. With most people pulling off of the “road to growth” right now, the coast is clear to speed past, gain market share and not only get somewhere… get where you always wanted to go.

According to a Fortune Magazine Study from the last recession in the 1990s, this is not the time to cut advertising. It is well documented that brands that increase advertising during a recession, when competitors are cutting back, can improve market share and return on investment at a lower cost than during good economic times.

In the 90’s, Fortune found that the successful companies do not to think of advertising as an expense, but as an investment. Think long-term: the recession will end, things will get better, and by maintaining or increasing your advertising budget you will gain on everyone else who cuts-back when times are tough.

Edward Lawler III, a professor of management at the University of Southern California takes an aggressive view. He recommended that companies in 1990 look at the recession as an opportunity to deliver a “death blow” to other companies who had cut back on advertising. Your weapon? Advertising.

The article also gives examples of companies who at the time were moderately recognized, such as Geico, who pumped up their ad budgets and immediately gained market share even without their current spokesperson, that is, gecko.

Fortune also reminds us, similar to a recent article posted on our blog, to shift ad campaign messages from focusing on luxury and status to concentrate on efficiency and value. In the 90’s, Cadillac began emphasizing miles per gallon, and Bertolli modified their strategy from promoting their heritage to stressing olive oil’s health benefits.

When you’re considering your marketing and advertising plans for the upcoming days, keep in mind the advice of the experts and the methods that have proved successful for companies under similar circumstances. If you could use some help, contact us.

It’s time to step on the gas.

For the full Fortune article, click here. For more information about taking advantage of today’s climate to increase your market share, contact On-Target Marketing today!