Sunday, March 29, 2009
Client spending in a recession...
Everyone knows we are experiencing an economy unlike any in our lifetime - for reasons that continue to be discussed and debated worldwide, we're in a recession. Ultimately consumers aren't spending and clients are budgeting significantly less to market and advertise their products as a result. But clients are approaching the problem very differently. Some of them understand the importance of developing overarching strategies that guide their every action - and they are less reactive and arbitrary in their decision making as a result. They understand the importance of continuing to engage the consumer as well. As their agency partners we must help them maintain the market share we've all worked hard to gain. At a time when fewer media dollars are being spent we must create ideas that are even stronger and more innovative than ever before. But clients must give their agency partners sufficient resources in order for us to do so. Those who understand that, are more likely to protect their current market share in this downturn and be particularly well poised to increase that share when the economy rebounds. Those clients who don't understand that, won't be. It's that simple.
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