What Small Ad Agencies Should Do During a Recession
Wednesday, March 11th, 2009
This recessionary period is when small agencies maximize their opportunities during lean times to gain ground.
- Keep what you have while getting someone else’s. Advertisers aren’t just trimming budgets; they are re-evaluating their relationships to determine if they are getting the most for their money.
- Great agencies shine brightest during dark times. When times are bad, there is better talent available to small agencies. Due to layoffs or the fear of them, good talent can be open to working for an up-and-coming agency.
- Work hard even when there isn’t a lot of work going on. Staying busy is the key to getting out of the gate fast when the economy rebounds. Good employees expect to be challenged.
- Focus on marketing tactics where success can be measured and defined. Marketing directors are running scared (or are likely to be eventually), and in that scenario that want to minimize risk and waste. The inherent measurability and relatively low cost of digital tactics are more attractive to clients when the economy is less robust, and digital will be the one area of the business that will grow this year.
Agencies will have much more success acquiring new business if they diligently pursue their new business goals despite the economic conditions.
Originally posted on fuelingnewbusiness.com
Category Advertising, Economy, Small Business | Tags: Tags: Advertising Agency, Recession, Small Business, Tips,