Many people have recently asked me “Why would you risk starting a production studio in a recession?” It is a fair question when we normally associate recession with doom and gloom. However the bad economy presents businesses with an opportunity.
It is true that many short sighted businesses will cut their marketing spend/efforts and allowing competitors (that stick to their marketing strategy) to pick-up market share. In recent times social media avenues have presented businesses the ability to market themselves without the astronomical costs of traditional media. Traditional media channels shouldn’t be abandoned entirely either. With many also struggling to keep clients, they will be more likely to ‘value add’ to most media spends. In many circumstances that will allow businesses to have a greater reach for their spend also.
So having said that, there is many opportunities for a new studio keen to add new clientele. A switch to an agency that is able to offer services in-house may be just the ticket, with greater likelihood of receiving an intergrated, timely service and outcomes that suit the budget.
Exciting times ahead!