OK, it's Obama Time...let's see if the man can turn things around.
While we wait, I'd like to address the strange new strategy of throttling all advertising and promotion to wait for the economy to uptick. I think it's pretty amazing that brands and corporations are pulling back so immediately from their promotion activities. Yes, the economy sucks, budgets are tight, consumers are in a panic. Does that mean it's time to stop marketing? Are you kidding me?
Let's take promotional products (cause that's what this blog is about). I've recently been getting the strong vibe from my clients that now is a good time to stop using branded merchandise...because...um..."I don't have the budget and they're just trinkets and trash with logos on them anyway." Well, it follows that they were worthless T&T before the economy tanked, so you must have been nuts to spend your budget on them then, right? Of course not, they were working fine last year, and the year before...they provided awesome exposure and your customers/employees appreciated the effort. They loved getting your "free stuff", let's face it.
Well, call me crazy, but isn't now the perfect time to give your customers some cool free stuff? Won't they appreciate your efforts even more than last year? I think they will, and it doesn't take reams of research to prove it...just a few seconds of thought. Holiday is coming fast...will you be OK with it if you don't get any gifts, any bonus, any recognition for your efforts just because your company is pulling the budget reins in? I think not. I bet you'll be bummed out.
Don't bum out your customers. If you are promoting a consumer brand with premiums, don't bum out all the consumers who love getting your merchandise. If you were getting ready to reward or motivate your employees...don't bail on those plans. If you were planning on some nice gifts for your clients, by all means, do NOT shelve those plans! Find the budget at all costs. Guess what? You'll be the firm getting all the exposure and kudos when your competition is MIA.
Be Santa...not Scrooge.
Your call.
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