The rollercoaster ride we are on in the financial markets will soon ripple through our own industry. How it will affect each and every one of us is, at best, a guess for the moment.

Layoffs are, of course, on top of everyone’s mind. Layoffs are NOT, however, the only option in the weeks or months ahead. The cost of unemployment benefits, severance packages, re-hiring and retraining when the turn-around comes is not the wise choice to make. The disruption in your business and the potential loss of client satisfaction should be avoided.

Solution: Spread the pain. Instead of cutting jobs, cut compensation across the enterprise; cut hours or days. Many employees would welcome the opportunity to advance other interests or spend more time with families.

The best advice I can give is to hang tough and stay in the game.

The clip that follows, from the 1947 film The Hucksters, best exemplifies the importance of “staying in the game” … the concept of frequency, driving home a message. The underlying message here is for CMOs to hold firm on ad budgets or risk losing market share. Many would even argue that the best time to gain market share is in a down period. The clip is courtesy of Nick Brien, President and CEO at Mediabrands, IPGs media holding company.

The title of this post, The Ubiquitous Persuaders, was borrowed from
George Parker, a Creative Consultant/Writer who has recently published his latest book, MadScam. He is currently working on his new book due in time for the Holidays …. The Ubiquitous Persuaders, a 50-year update on Vance Packard’s The Hidden Persuaders.

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