In uncertain economic climates, marketers are challenged to adapt. Industry leaders suggest remaining flexible with budgets, avoiding long-term contracts, and being cautious in reactions. Kerri Kauffman recommends testing new strategies while maintaining overall budget flexibility. Kevin Simonson warns against brands publicly announcing price increases, and Jay Pattisall emphasizes the importance of maintaining market share during downturns. The consensus is to manage budgets wisely and respond adaptively to the ever-changing environment, keeping consumer sentiment in mind amid unpredictable political and economic landscapes.
Being open to trying new things, testing, continuing to test, pivoting and thinking about optimization are important.
It's not a good idea right now. It's probably not ever a good idea. But there's also change every single day.
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