5 Tips to Cope – even Thrive – in a Downturn

I found some encouraging news in our industry trade journal last month.

Advertising Age was founded less than 90 days after the crash of 1929 and has reported on every downturn since the Great Depression. Innovation in marketing and media can be at its best in the worst of times.

With that realization, Ad Age dug into their archives to find some motivational and helpful tips on how to cope or better yet-thrive-through economic downturn.

Here are five tips they shared:

LAUNCH A SMART MEDIA PROPERTY
Launching a magazine might not sound smart in the midst of the Depression, but it worked for Time Inc, which launched Time, Fortune, Sports Illustrated, People, and Entertainment Weekly in recession years.

GET IN ON THE GROUND FLOOR
No one has a crystal ball, but if there is clear potential in a market, starting new ventures could be very profitable.

DOWNTIME PROMOTIONS CAN BE ADDICTIVE
Promotions have shown to help with brand loyalty and keep customers through economic down times.

UPSCALE IN A DOWN MARKET
Even in rotten times, there’s a market for trading up.

SELL SOMETHING ELSE
New cars weren’t selling in 1930, but the industry spotted an expanding revenue opportunity: service-which led to the ad campaign with the slogan “Care will save your car.”


For Ad Age’s full analysis go to http://www.AdAge.com/whitepaper
and click on Downtime Opportunity.