When an economic downturn hits, marketing budgets are often the first to be cut.
But cuts to marketing budgets also reduce the chance of bringing in new business, negatively affecting growth goals. Put simply, cutting marketing budgets can foreshadow the end of your business as new leads dry up due to a lack of investment.
For example, during the 2008 recession, companies that maintained their marketing budgets saw 3.5 times better brand visibility than the companies that cut their budgets. With more visibility comes the most important thing of all: new business.
In this new guide, you’ll learn:
- Marketing’s’ strategic role during economic uncertainty;
- How to prepare your team for success during a recession; and
- Post-recession strategies for long-term success.