Advertise even during economic slowdowns

For this economy to function, companies must market and advertise even amid a global crisis. Take a quick look back at the tragedy of September 2001 and how businesses reacted.

In the weeks after 9/11, the ad industry responded with uplifting messages. The Ad Council released “I am an American,” a TV spot showing the nation’s diversity. General Motors offered an uplifting advertising campaign entitled: “Keep America Rolling,” combining a pro-America pitch with zero percent financing.

Today we find individuals and businesses deeply concerned and fearful. People seem to be apprehensive for their jobs, for their lives and for the future.

It may seem like the easiest course of action is to batten down the hatches and cut back just to survive, but that is not what history teaches us. 

The U.S. economy needs marketers and marketing. Consumer spending  accounted for more than two-thirds of economic activity in 2019, so it’s no secret that marketing helps drive commerce.

I believe we will see businesses in the coming months that are willing to take bold risks to keep this economy rolling.

Businesses must give consumers a reason to spend through special offers and the promotion of their products and services even when we are going through tough economic times.

During the Great Recession back in 2008, I wrote an “Opinion” published in the Northwest Arkansas Business Journal in April of that year that “during economic downturns, businesses must look for creative ways to be even more visible than ever.”

What I said 11 years ago can still be true today, “To succeed during difficult times, you will need to be tenacious and creative. Engage your entire company or organization. Make a commitment to do what it takes to succeed and take an aggressive approach to generate new business.”

In Ad Age’s first issue published post-9/11, they offered a similar and hopeful view: “President Bush had it right when he urged that normal national life must return promptly; that the nation has to get back to business after last week's horrors.”

The economic life of this country is the foundation of our well-being and cannot be put on hold for very long. Consumers, already anxious about the economy, need to see that business is not retreating. Companies and employers must sell products, and they need to market and advertise to make it happen. Advertising messages and schedules must be planned and purchased, and businesses must look to the future.

After times of crisis throughout our history we have always pulled ourselves up by our boot straps and took positive action. Even with these unprecedented days of COVID-19, we must soon begin to reset and move forward for the good of the entire nation.

Someone once said, “In Good times, businesses want to advertise, in bad times they have to.”

Let it be so!