“Anybody who retrenches because of the recession has really got his head in the sand,” said John Vanderzee, of the Ford Motor Company, way back in 1991. “You can’t not spend.”
To increase spending on marketing at this time may seem counter-intuitive, but this is exactly what businesses should be doing right now. Brands with sustained marketing expenditure will create strong competitive advantage by stealing share of voice.
Four ingredients need to be in place for this to happen:
Character – create a leadership positioning based on the core essence of your brand and become the authority in your market.
Culture – foster entrepreneurialism to develop plans, pilot new marketing approaches and roll out successes.
Capital – commit the resources and budget you need to make your plans a reality.
Calendar – put deadlines and milestones against every element of your programme and monitor and measure progress.
Tags: brands, marketing