Through these tough financial times the usual knee jerk reaction towards Marketing Advertising is to reduce budgets. Surprisingly, in comparison with this fairly natural reaction when business and the economy are thriving some advertisers do feel the need to hold back.

Most markets and niches have had to consider the paradox of reducing budgets in a time of financial meltdown. Reports and data from previous recessions have shown that in times like these the worst time to cut down on marketing budgets is now and that also whilst everyone else is being cautious, now is the time to be attracting new customers and clients that you may not of been able to get 12-18 months ago. By building your brand up now and overtaking rivals you can make sure that you are top dog in your market when the money comes around again.

In tough economic periods, slicing marketing resources for personal injury businesses is a non rational response based on the doom and gloom market fed from the media. Why are they working at the same amount of risk as they are in financially healthy times? Because personal injury companies are based around calculated risk, therein working on a contingent fee basis means that whether we are in a recession or not, the amount of work they’ll be getting shouldn’t change. Funnily it is predicted that personal injury claims could rise in the next 12-24 months because of stretched finances and unemployment.

The centre of the debate revolves around we plan for the future. Do we continue, increase or decrease with Advertising Recruitment budgets? This all depends on how we view advertising, is it an expense or is it an investment? The former can be cut to ensure the future but the latter needs to be secured to ensure future stability and growth in times of strife.