Careful with that axe, Eugene!
The economy has taken a beating lately, that’s for sure. Amid the constant refrain of bad news, businesses have cut spending. For many of those businesses, the first expense to face the axe is marketing.
Bad idea.
While it might be tempting to trim an expense that doesn’t immediately add to the bottom line, fading into the background is never the path to success. Think about it: Does hunkering down increase your sales? Do you honestly think you’ll succeed in these hard times when fewer people are reminded of your goods or services?
Marketing now, while others are following the mob into the void, will allow your company to stand out and, most important, remain viable. And when the larger economy does reawaken, you’re well positioned for serious growth.
Marketing is not merely an expense, it’s an investment. The issue is how to invest shrewdly.
For example, this might be a good time to finally jump into the social media swimming pool. A well-designed, well-executed, frequently updated blog, Facebook page or Twitter account will help you accomplish two things – you can not only speak to your customers, you get to hear directly and immediately from them what they like and don’t like. In other words, you learn how to better meet their needs, so you can sell more of whatever you’re trying to sell.
