• by David Goetzl  @dgoetzl, December 12, 2008

Interpublic research group Magna released a report Friday suggesting steps that marketers can take to propel growth during the recession, including making more cross-platform deals and looking for opportunities to drive down rates. It also advised that marketers seek to build awareness, while blocking competitors in the process.

"Identify opportunities where you can gain share of voice from your competitor," the research group wrote in the "Best Investment Practices For a Recession" memo. "Perhaps a key event or property will become available or a brand can secure exclusivity where it was previously unavailable and ultimately block the competition."

In a similar vein, Magna suggested that advertisers conduct an audit and reevaluate how they appropriate their dollars. They could find properties "that may have been historically too expensive might surprisingly become available."

Furthermore, Magna advised advertisers to develop a certain nimbleness to take advantage of rapid changes in the marketplace--likely to accelerate as the economy remains in turmoil.

"At all costs, we cannot cut innovation and need to continue examining the price value relationship for all our investments," the firm wrote. "We encourage our clients to be more flexible and fluid." Emphasizing the trend of buyers looking for more than impressions, Magna advised: "Wherever possible, create deeper, more meaningful relationships to service as many aspects of your marketing efforts as possible."

The firm also called for advertisers to work with media companies that offer multiplatform packages. The media companies may be willing to offer a discount or other incentives for purchasing properties that are not selling briskly.

Magna also said marketers need to be on their toes and "retain flexibility to optimize campaigns ... to maximize leverage and ensure price advantage."

Magna is part of IPG's Mediabrands unit that includes agencies Initiative and Universal McCann.