The Economist hedged its bets today, predicting that advertising spending might soften in 2008, or 2009, or it might not. I actually prefer this caution to bombastically certain predictions, but further down in the story there are a couple of interesting observations. The second is paraphrased from Trevor Kaufman, CEO of WPP-owned Schematic.
Search advertising, the most effective kind of all, should be safest.
The internet’s interactivity and wealth of product information make it the best means of generating short-term sales… During a downturn clients see internet ads as easier to measure and hence easier to justify to shareholders.
The logic here is pretty straightforward and accurate. Paid search and other directly accountable media are an easier sell when spending is under greater scrutiny, and you know in something close to real time if they’re not working. However this kind of thinking also illustrates just how little faith there really is in marketing and advertising. When times are good, loosen the reigns a little and indulge those creative, brand building whims, but when the dark clouds gather send the kids to bed early.
I don’t want to let go of my belief that a lot of marketing is about creativity and instinct, particularly David Ogilvy’s concept of the Big Idea. Of course, Ogilvy was also pretty clear in his belief that meticulous research played just as large a role, but that’s part of the same package, a view of marketing as a thorough discipline that requires strategy, planning and patience. Without these (often expensive) things it’s hard to see how the subtle, emotional relationship between consumers and brands can be effectively managed.
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