Depending on what part of the country you live in, the great recession ended approximately 10 years ago. Economists have been forecasting another slowdown for several years, and there are plenty of warning signs we are entering another economic recession. Usually on the back of hyperinflation comes recession. During a recession, businesses cut back spending in fear of declining revenues. Industries that tend to suffer during a recession include textiles, transportation, furniture and appliances. Gaming has fared better than most, but did feel the pinch during the 2008 recession.
Marketing is asked to examine spend and make sometimes deep cuts against programming that does not show a definitive and healthy ROI. Advertising is typically the first expense cut, and is often cut by as much as 10-20% or even 30%. In 2008, across all sectors, ad spend was cut nearly 14%.
Advertising is broken into above-the-line (ATL) or below-the-line (BTL) advertising. Typically, ATL advertising is concerned with mass media promotion to reach large, relatively untargeted audiences. ATL includes radio, TV, print, and out-of-home (OOH). In comparison, BTL is directed to reach a smaller, more targeted audience. BTL campaigns include direct marketing, digital marketing and email marketing.
READ THE FULL ARTICLE BY HEIDI HAMERS IN THE 2022 SUMMER EDITION OF GAMING & LEISURE MAGAZINE.