What to Do When Your Marketing Budget Is Cut
The seemingly endless stream of bad economic news is making corporate leaders nervous. Worse yet, some companies including many e-tailers have seen their sales growth soften or even go into decline. Usually the first thing corporate management does when sales drop off is to cut expenses. And one of the first areas to cut is the marketing budget. It’s a favorite target because it tends to be sizable, can be throttled back quickly, and can be cut without stifling revenue immediately.
What should you do if your marketing budget is cut? While your management wants you to react immediately, you know that an ill-considered elimination of marketing support can quickly translate into a disastrous drop in sales. Rather than responding hastily and arbitrarily just to show activity, I recommend performing a quick analysis of your situation to get a better understanding of your best business alternatives.
