As In… Are We Heading Towards Another Recession??
I’ve been doing this advertising agency thing for a long time. Started in the 1980’s and have gone through 5 recessions. Each time, clients got nervous. Many pulled their advertising back but some (the ones we loved) actually added to their budgets to gain market share when their competitors pulled back.
Here is a chart of the recessions. Of course, the most recent recession was a major killer coming just as digital media hit. Traditional agencies really got smacked down.
Our 2016 401K Freakout
If you have been tracking your 401K you are probably frowning a bit (understatement). But, relax.
I have two points to make.
First, if you are a long term investor, be cool. Hey, you are not cashing out today so don’t sweat this quarter’s decline. The stock market’s position today is irrelevant to the long term health of your account. note… Things have been trending up and they will continue to do so.
Second, as this is the BIG one. Use the downturn to your advantage. I have an agency client that specializes in high-end real estate. He is leveraging the downturn. His clients and prospects need his help in a market where some potential buyers (you know, the 1 to 2%) are getting a bit skittish about buying that third or fourth house. The 1% ers know that eal estate is still a great investment.
I Love Pain (Points)
So… use this downturn to your advantage.
Hmm… consider the downturn a major client pain point that you can leverage in your ad agency marketing. Pain points are painful and engender conversations and the need for strategic advice and the need for YOU. Talk efficiency. Talk data. Talk big ideas. Talk technology. And on. Each of your client categories needs you to relieve their pain.