When talking to company directors in Ireland and the UK, we often talk about crisis strategies. Why? Because when the market is calm, anyone (okay, almost anyone) can take the helm and brag about good results.
Only a crisis situation forces us to make difficult decisions, which we may have been delaying for a long time. Difficult market situations also force a revision of expenses and activities. When a company has to tighten its belts, owners and directors must decide what costs to eliminate in order to keep the company going.
In such situations, the statement is very often made: “Cut marketing, it’s throwing money down the drain and unnecessary cost anyway.”
Today, a few words about whether marketing is really unnecessary and about where we can actually look for savings during the economic crisis.
Marketing Facts and Myths
Before we go any further, I’d like you to remember a short and simple definition of marketing.
Marketing is everything you do to attract customers to your business and everything you do to keep them there.
It happens quite often that business owners think they are cutting back on marketing, when in fact the opposite is true.
I spoke to a company director a while ago who claimed to have grown the business without spending a single euro on marketing. During the conversation, however, we Latest Mailing Database areit turned out that he invested EUR 50,000 in the website, sellers actively use social media to attract new customers, and the content on the website is optimized for Google search results.
So if marketing is everything thanks to which we attract customers to our business, then pointless cutting expenses may turn out to be undercutting the branch on which your company stays during the crisis.
Would you send your salesman dressed in pajamas to your most important client? NO? This is also marketing.
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