Have you ever jerked your car’s steering wheel in reaction to an imminent threat, only to realize your overcorrection presented an even bigger risk?
That’s an apt analogy for what’s likely about to happen in corporate leadership meetings across the country as consumer packaged goods (CPG) brand leaders react to adverse market conditions on the horizon; conventional wisdom has instinctively been to slam the brakes on their marketing spending.
But what if that, too, is the exact opposite of what works? In my company’s history of helping top consumer brands create more value from their marketing investments, our solution’s Bayesian statistical models consistently reveal some surprising insights about how marketers can successfully navigate adverse market conditions and emerge unscathed, or sometimes in an even stronger competitive position.
Let’s take a look at some of the economic threats currently looming on the horizon and then explore some of these contraventional strategies and why they make sense when you can pause to consider what to do, rather than relying on instinct.