It’s been a rough year. Don’t make things worse.
I was reading the latest research the other day and it looks like nearly half (44%) of Enterprise organizations have experienced midyear budget cuts. For SMBs it’s much higher, with over 70% of companies making cuts to their marketing budget.
While understandable, cutting your marketing budget spend and subsequent marketing activity, may be an easy target to reduce some company expenses, but it is also a self-inflicted wound that hurts your brand awareness and in-turn, your future sales.
A reduced marketing budget doesn’t always mean cancelling projects.
Having to cut your marketing budget is the last thing any marketer wants to do, but therein lies opportunity!
Before you start looking at which projects you can cancel, know that there are things you can do today to lower your costs without reducing resources, capabilities, or the number of campaigns you had planned to run.
Since starting our agency over 15 years ago we’ve always put our client’s budget and their interests before our own.
We’ve helped clients reduce their marketing spend and stay on, or under budget.
We’ve suggested alternative approaches that saved them money and we’ve always been transparent.
We strive to keep costs as low as possible while creating marketing that delivers ROI and meets the goals and objectives you want to achieve.
You’ve heard the investment saying ‘ Buy low. Sell high’. Well, your business is no different. Maintaining your marketing activity in a slow time will pay off in the months to come. See what Harvard Business Review and Forbes have to say about the benefits of maintaining marketing activity during slow times.
Every marketing budget fuels your cash-flow and near-term stability and is arguably the biggest contributor to future growth. SMBs especially, have an opportunity right now to take advantage of their competitors pulling back.
You have a choice, but if history is our guide:
Cutting your budget and marketing activity, only leads to fewer leads, fewer sales, and reduced revenue.
Learn how you can get more out of a reduced marketing budget, maintain your brand awareness, and keep qualified leads coming in, while growing your marketshare — Schedule a short 15-minute call today and see how we can help you get more out of your marketing budget.