Wednesday, April 1, 2009

Don't let the economy shrink your marketing budget

We were at the Massive Tech Show earlier today and it seems like the number of exhibitors this year has decreased by quite a bit.

Weird that with tough economic times it's always the PR and marketing budget that gets slashed first - shouldn't you be strengthening your sales and trying to cut operational costs?

The one thing you can't afford to cut when business slows is the marketing budget. Think about this: when everyone else cuts back on their marketing (hopefully your competitors) and YOU increase or maintain your marketing budget (of course through the most effective channels...) who do you think will gain from this?

Answer: YOU?

That's what I thought.

What you should actually be doing is managing your operational costs - can rent be cheaper? Can you outsource to lower the costs of maintaining full-time staff? Can your cost of delivering services/products to your customers be decreased?

These are just a couple examples, but you're bound to answer YES to one of the above questions. If you answer NO to all of the above then that means you're not trying very hard to save more for your business.

That's what I try to do for PeerFX - search for ways to increase the top line while decreasing the cost to serve end-users. Where there's a will there's a way - so get creative!

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