Can Creative Graphic Design Help Beat the Recession?

New words came to soften the blow 'Credit Crunch' and now the full fat 'Recession'
This is not a time to think about slowing down - First of all the media was full of the credit crunch, then it was economic slow down but now the dreaded ‘r’ word has started to rear it’s ugly head.

In the UK in 2008 is at least in an economic slow down; house prices are falling, many companies are announcing reduced profits and the figures from the British Retail Consortium (BRC) out today suggest that the high street suffered its worst performance for three years as retail sales fell for a second consecutive month in April.

Simply put, in a recession your customers are likely to spend less, so your revenues and profits go down! As a consequence many business managers take out the hatchet and cut their marketing budgets to save costs. But is this the right thing to do?

It depends on whether you see your marketing budget as a cost or an investment. The smarter business manager thinks of marketing as the latter. You’d expect me to say that but there is evidence to support the case for maintaining or even increasing your marketing spend in times of recession.

A recessionary market can provide an opportunity for businesses to build a greater share of market through aggressive advertising without reducing short term profitability. Conversely, businesses that reduce media spend suffer a loss of market share.

Are you frightened to spend on marketing at the moment or are you waiting to see what happens?

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Hello and welcome to my blog, I have started this blog to discuss graphic design in print and digital mediums. If you have any questions please let me know.
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