Lori Willard, Online Media Specialist here at Def 6, passed along a MediaPost Research Brief that shows that reduced advertising during a recession negatively impacts consumer perception.
According to a new Ad-ology Research study, "Advertising's Impact in a Soft Economy," more than 48% of U.S. adults believe that a lack of advertising by a retail store, bank or auto dealership during a recession indicates the business must be struggling.
Conversly, a vast majority perceives businesses that continue to advertise as being competitive or committed to doing business.
Other key findings include:
• 40% of consumers use coupons more now than a year ago
• Most consumers are as willing or more willing to pay more for ‘healthy' or ‘organic' products than they were a year ago
• A ‘deeply discounted price' was the number one factor that would make consumers more likely to purchase a big-ticket item (+$1,000)
• Store websites ranked second only to search engines as the way consumers research products and shop online
Ad-ology summarizes the research by saying: “It is critical to advertise in the current economic climate, to maintain long-term positive consumer perception of your brand. Advertising not only assures consumers of a business’ reliability in a soft economy, but it can influence where and what they buy, especially when the ads address concerns about value.”
Definition 6 offers strategy consulting services to help you with your advertising initiatives for the following disciplines: email, SEO, SEM, online media, social media, and mobile. Don't let your advertising negatively impact consumer perception.
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