In recessionary times, it pays to double down on brand.
Amid a global cost-of-living crisis that is only expected to deepen in 2023, top ad agency leaders have urged that brands become more, not less, important during recessionary times.
Responding to inflation and turbulence, brands will be tempted to cut marketing spend, but DDB Group Sydney chief executive Sheryl Marjoram and DDB’s national chief creative officer Stephen de Wolf warned against such pullbacks if they came at the expense of keeping your brand strong.
During a recession, when massive pressure bears down on spend, ROI, and finding better profit models, many brands are forced to reduce marketing spend as a knock-on effect,” Marjoram said
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