If The Economy Slips, Don't Let Your Marketing Slide

There's been mounting talk about a double dip. And I'm not referring to the Seinfeld episode where Costanza gets reprimanded for two-dunking at a wake.

When bad economic news dominates the media, there's a tendency to pull back, especially when it comes to marketing. And that’s understandable. As CEO, you do what’s necessary to remain profitable. But there's a definite distinction between pulling back and pulling out all together. At first sign of economic turbulence, we often see companies completely eliminating all marketing expenditures. This is an over-reaction, and one that is detrimental to your brand and business. While you might experience cost-savings in the short-term, you will only deteriorate the long-term profitability of your brand.

Before you jam on the emergency brake, I would suggest another route: Take a look at lower cost marketing options. Ones that allow you to maintain and extend brand presence, but in a more affordable manner. This might include shifting from traditional to digital media, identifying partner companies to do shared expense marketing programs, outsourcing marketing to reduce overhead, or other creative cost-lowering alternatives.

Remember the adage, "Out of sight, out of mind." Don't give your competitors ammunition to use against you (“Did you hear that ABC Company is not even attending XYZ Tradeshow this year? They must be in real trouble . . ."). You know how the rumor mill works and the damage it can do.

So, if the economy slips, don't let your marketing slide. Know that there are always options at your disposal when it comes to sustained communications for your brand. And if you get stuck, or would like a fresh perspective, just give us a call 908.534.9044.