One of the most important things you can do in tough economy is keep up your marketing efforts.
Everyone is looking to cut costs. Many smaller and mid-sized businesses decide they can figure it out on their own without a Marketing pro. However, a "penny wise" theory is going to do two things:
1. Cost you more in mistakes.
It never fails that I meet a prospective client looking for a "brochure", a "website" or the like. They often don't have any idea where to start or in which direction to go. They just want some quotes to get something done. I always make them fast forward to six months later when they realize they just blew money on an ineffective marketing tool inconsistent with the direction of their business. Thus, requiring them to go back to the drawing board and reinvest in doing the job the "right way". An experienced Marketing pro can help navigate the most cost-effective ways to keep a strong marketing presence while minding the budget. In the end, the client not only has something useful, but didn't pay for it twice.
2. Hurt your sales revenue stream.
For the most part, Marketing has become a long-term investment. In other words, unless you are running an ad for a sale at your store this week, you need to keep at it for awhile to see results. Consistency over time is the name of the game. When you hit the brakes on Marketing efforts you may save some money--for the MOMENT. But shortly down the road you will start to see sales dip. If you don't have significant measures in place, everyone will stand around trying to figure out what happened. In reality, businesses need to INCREASE Marketing efforts in a tough economy. Of course they must do so in the most sensible and cost-effective way with an eye on ROI.
Finally, remember that Marketers have a vested interest in your businesses' success. When you make them a trusted advisor, everyone wins.
