Companies should cut marketing spend in a recession
Despite the fact that most marketing professionals advise that in a recession companies should increase their marketing budgets, John Giazzi of JCG Marketing is advising that this is not necessarily the best course of action.
John commented: “The reality is that all budgets are cut in lean times and this is certainly the case for marketing budgets as there is little point in increasing marketing spend if the volume of custom isn’t there. It is perhaps true that if companies do increase their marketing spend they are likely to win the majority of available business, but the danger is that it won’t generate enough revenue to cover the extra marketing spend.
“Companies are forced to make efficiencies and to work smarter and harder in times of recession. Now is the time to review and evaluate all of your marketing and make any necessary cuts, changes and improvements to ensure what you are doing is working and producing results.
John continued: “I see so many websites which, with a few minor changes, could shoot up the search engine rankings. People tend to think that search engine optimisation is a technical area, but there are a number of simple steps which most people can make themselves which will produce significant results.
“Secondly, if you aren’t writing and submitting press releases, you need to start. A well written press release focussing on new initiatives, products, promotions, events, celebrations, or milestones appropriate to your company is likely to get published. Press releases provide a very powerful way to increase your company’s profile, and for free.
“Review your advertising. Are your adverts current, is there a strong headline, is the message apt, is the call to action strong and do they give a reason to act immediately? I see so many expensive adverts which are badly designed and without a clear and unique message. A well thought-out ¼ page advert can easily out perform a mediocre full page advert”.