Business Strategy: Defy the Temptation to Cut Marketing

When financial times are tough, many people have a tendency to spend less because they are either not bringing in as much money or their money just doesn’t buy as much as it used to.
 
Businesses are often tempted to do the same thing.

When profits are down, something usually has to give.  Where and how to make cutbacks is the key to the survival of your business, and should be guided by your long-term business strategy.

All too often, cuts are made where spending is the greatest-marketing.  The up-front cost can be high, and induces panic in the present-thinking cautious spender… But focusing on the cost of marketing as an expense to be cut distracts you from your long-term business building efforts.

Marketing is NOT just a cost, it is an investment in the sustainability and success of your business.  You draw leads and customers into your sales pipeline with marketing. 

Without marketing, you lower your sales potential and your long-term profits because no one will know about your business or be compelled to buy your product or service.

Depending on your business, you may need to employ some more cost-effective marketing methods to deliver a higher return on your investment.  But the survival and future growth of your business depends on continuing your marketing strategy.