All ad agencies are chasing less money.
Everybody is looking for a deal at the moment. Whether you're buying a house or placing an ad: Everyone is in the mood to barter. It's a buyers' market.
Clients are looking for better value-for-money. They want to be able to measure their ROI as precisely as possible.
Traditionally advertising, especially recruitment advertising is the first thing that gets pulled by companies in a recession. However they still need to spend money retaining their most valuable staff. So agencies should concentrate more on helping companies manage their employer brand and talk to their people.
There are a lot of unemployed people during a recession. Many people will apply for anything and everything. Making sure you find quality rather than quantity of candidate for a client is key. Ad agencies must learn to target their campaigns. Again, this means basing work upon research. Results-based advertising is the future.
During a recession there are candidates without the right specific experience a client needs, but they could have great transferable skills. In fact they could be some of the best people out there. They just don't know that they could do this job. Attracting people from outside of a particular sector will be key. This means connecting better with passive jobseekers. And that involves loads of different techniques that ad agencies need to know inside-out.
Clever ad agencies ready themselves for the inevitable upturn. However, I think long-gone are the days when HR managers are given huge budgets to play with. In the future, they'll be regulated much tighter. So, the more measurable you can be the better.
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