O’Connell Meier thrived thanks to a recession in 1990-91. We launched in ’89 and were fortunate enough to be growing fast when the recession hit. We had seen the famous McGraw-Hill study that found that companies who maintained or increased their ad budgets experienced a 256 percent increase in sales compared to those who cut their budgets. So, we upped our marketing and came out of the recession stronger and with a bigger share of the market.
So now its 2009, we’re all wrestling with another recession, and we go looking for data. Only to find that everyone is still quoting that same 1980-85 McGraw-Hill study. We can’t expect our clients to rely on a single study done before some of them were born, so we kept searching. And Eureka! — we found a report on Innovating Through Recession by Andrew Razeghi, Kellogg School of Management. Check it out if you need facts and figures to support your marketing budget requests. We’ll keep looking for new and interesting data.
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