Trends Report

Cutting Marketing Resources Is A Bad Idea, Especially In A Recession

June 26th, 2020

Summary

Making blanket cuts to marketing budgets during a recession is simple mechanically but risky strategically because marketing activity has broad and deep influence on market visibility, customer relationships, and business outcomes. Before scaling back, consider how marketing informs the product, pricing, competitive, and brand strategies that determine your relevance to customers. Marketing also influences the effectiveness of other business functions such as sales, brand management, and channel partners. Done well, marketing can grow a business out of a slump. Marketing functions today have the mindsets, processes, talent, and insights to play a growth role at your business. CMOs: Rise to the challenge. CEOs: Let them.

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