What is the most effective way to advertise during a recession?

The fragmentation of media channels is a big challenge nowadays. In a recession it is important to maximise our relationship with our most important clients (i.e. most profitable) to motivate word of mouth and referrals.This can be achieved through Relationship Marketing campaigns aiming to reduce the gap left during the sales and after sales process. It is important to know extremelly well our potential clients´ needs and habits, as well as to analyse the results from previous advertising or marketing efforts. Based on all those data you can choose the most reasonable option. In recession times it is important to keep communicating with the market, improving relationships with our most important customers and finding creative ways to "advertise" our products and services.( blogs, social networking, seminars in Business Associations ,Chambers of commerce, etc???)