Here is another example, in the form of an excellent article in “Media Daily News” on Procter and Gamble’s aggressive advertising strategy. This is from that article:

“CEO A.G. Lafley said marketing outlays have remained at their traditional levels, and P&G is looking to take advantage of the turmoil in the ad market to build share of voice.

In a call with investors, Lafley said the marketer of Tide and Crest is “absolutely not” trimming ad dollars. In fact, what’s really going on is that “the advertising markets are softening–and for the same dollars, we’re buying more delivery.” That, in turn, has led to “improving our shares of voice” in multiple categories, he said. “

Read the entire article.

Bad idea.

While it might be tempting to trim an expense that doesn’t immediately add to the bottom line, fading into the background is never the path to success. Think about it: Does hunkering down increase your sales? Do you honestly think you’ll succeed in these hard times when fewer people are reminded of your goods or services?

Marketing now, while others are following the mob into the void, will allow your company to stand out and, most important, remain viable. And when the larger economy does reawaken, you’re well positioned for serious growth.

Marketing is not merely an expense, it’s an investment. The issue is how to invest shrewdly.

For example, this might be a good time to finally jump into the social media swimming pool. A well-designed, well-executed, frequently updated blog, Facebook page or Twitter account will help you accomplish two things – you can not only speak to your customers, you get to hear directly and immediately from them what they like and don’t like. In other words, you learn how to better meet their needs, so you can sell more of whatever you’re trying to sell.