As much of the advertising world is either reeling under the pressures of budget cuts or living in fear of one, it might be a good idea to revisit this piece of creative work. In October this year, Financial Times ran an outdoor campaign which involved billboard sites being ‘stripped back’ to their boards, with the question: “Global downturn. What’s the first mistake businesses make?” placed in the top corner.
The campaign drives people through to FT.com/budgets, which contains case studies on why advertising still remains crucial in times of economic downturn. Clever advertising or meaningful advice? One might argue that what good is advertising if the company folds up – like in the case of AIG which ran commercials with the tag line ‘The strength to be there’ just before they were bailed out. Depending on the sector or the region, it is going to be hard next year as far as advertising budgets go. While durables and some services may be affected, it could be business as usual for FMCG.
So, what’s your mood for 2009? Is it all gloom & doom? Or is sentiment over riding reality?