GE CMO Linda Boff Tells Insider How She'll Tailor Her Marketing Plan For A Looming Recession, And What Other Marketers Should Do To Survive

• Linda Boff, General Electric's director of marketing, is developing marketing plans as the recession approaches.
• He said the company hasn't cut ad spend yet but is monitoring its ad spend.
• Boff said GE can limit its advertising activities, but it would be "foolish" to limit its research.

Linda Boff, General Electric's chief marketing officer, told Insider that while the company has yet to cut advertising spending amid mounting recession concerns, it already plans to pull out and protect some advertising initiatives.

Many big marketers like Microsoft and Procter & Gamble have already cut their marketing spend, and advertising agencies are preparing for further cuts as new sales deals are signed. Boff said GE is focusing on a conservative budget for now.

Advertising industry research firm Convergence estimates that GE will spend $37 million on global media in 2021.

Boff said if there's one area where GE isn't giving up, it's search advertising. "That would be stupid," he said. "You have to be in the right places for your customers."

Many marketers often view search advertising as a "cost of sale" rather than advertising spend because there can be a direct correlation between a consumer clicking on an ad and making a subsequent purchase. And for most marketers, this is a fixed cost, unlike other forms of digital advertising, which rise or fall based on the season and events.

However, according to Boff, in the event of an outage, GE will likely invest in two or three large displays instead of five. For example, in 2019 the company provided 3D printed clothing and accessories for the Met Gala.

"To be influential and give our brand what it needs to build these three companies, we have to choose a time to be loud and proud, but maybe less," Boff said during New York Publicity Week this week to insiders. .

Another area that may be in focus are new areas of marketing investment like Metaverse and NFTs. Boff told Insiders that if GE looks for new ways to connect with consumers, those investments will likely be impacted by a potential recession. "I can't imagine how it could not be," he said.

There is also the question of whether these experimental forms of advertising attract consumers.

"We can do an NFT this afternoon, but is it worth it?" he said. "Is it true, or is it way ahead of what our audience cares about?"

Boff said he's always made sure every advertising dollar goes to the company, and that's what all marketers should focus on during a recession. Now is not the time to simply bombard consumers with additional advertising or experiment with untested marketing channels, he said.

Linda Lee, Global Advertising and Brand Director, GE Capital, Marketing Today with Alan Hart