This week on the Digital Velocity Podcast, Samir Balwani of QRY joins Erik and Tim to discuss the five stages of growth that brands work through as they develop and scale advertising programs.
Brands may try to advertise too early in their development leading to wasted time and resources. Samir says,
“…a lot of brands are not ready for growth, and that’s the biggest problem. Our hypothesis is a lot of brands start advertising too early in their life cycle, and they end up wasting a lot of money with the wrong message, the wrong customer journey, and the wrong budgets and channels all around.”
As we head into a potential recession, brands might want to decrease media spend. However, Samir says,
“Don’t cut your media spend in a recession. I think that’s the biggest mistake people make. What you don’t realize is if you cut your media spend, you’re just making it cheaper for your competitors to buy media ‘cause you’re leaving the auction and you end up being behind the eight ball when we come out of it, which we will.”
Brands can use an economic downturn to capitalize on advertising opportunities. Samir explains,
“So, if you have the cash flow and you have the ability to do it, don’t cut your media spend ’cause you do want to be front and center. Recessions is when people switch brands. They look for offers. They’re more price sensitive. It’s an opportunity to capture new customers into your brand. So, I will reiterate, do not cut media spend during a recession.”
Listen to this week’s episode to learn more about creating and growing a profitable advertising program.
About the Guest:
Samir Balwani is the CEO and founder of QRY, a media agency that helps e-commerce and DTC brands like Delsey, Zadig & Voltaire, and Peak Design accelerate their growth. Samir is a true marketing strategist and thought leader, with over 15 years of marketing experience. He’s held high-level positions at companies including PMK*BNC, StyleCaster, and American Express.