Trends for 2009: #2. Bankruptcy (the penalty for not advertising)

The second trend in Advertising for 2009 ...

BANKRUPTCY
Wow - that is a strong and scary word. But, bankruptcy for who? I think that firms cut Advertising budgets to be "low cost" are those who are most at risk. If you look way back to the time of the GREAT DEPRESSION, you find that firms who survived that and who built brands that dominated the next decade(s) are those who advertised.

So, while the trend may be to reduce costs throughout the company, if you are in the Marketing Department you should carefully research the history the Great Depression and Advertising and then make a passionate plea to your CEO, CFO, and COO to not axe your Advertising budget. At the same time, you are ultimately responsible for ensuring that the advertising you produce actually works. It better get customers wanting and buying your product, and also build healthy demand for the time when the economy warms up again.

Will I be right? The year will tell!

• Follow this blog and watch for the next 8 trends I'm forecasting for 2009.
• Feel free to contact Market GoGo to discuss this further.