Tough Economy, Part I: Don't Cut Marketing!

Greetings,

Many times, it's the marketing and advertising budgets that suffer when business belts begin to tighten. Unfortunately, many businesses lose that "edge", that constant, competitive advertising gives them in the community. They begin to lose key placement that's been earned over time. Presence begins to dwindle in the eyes of existing and potential clients.

Once marketing and advertising costs have been cut and business begins to go south, the blame continues to rest with the economy in the eyes of the business owner. But is it really the economy, or the fact that the amount of time, effort and money the business once placed into the marketing arena has now been greatly reduced or cut altogether?

A little of both. It's true that businesses must spend money to make money, and that a decent portion of revenues need to remain with the marketing and advertising departments. When the market bounces back, your business will reap the rewards with increasing revenues, and best of all, your business won't be playing "catch-up".