The Association of National Advertisers released a report with predictable results: 93% of firms are cutting their sales & marketing budgets. And here is where they are cutting:
It's easy for agencies and marketing consultants to propogate the "don't pull back, now is the time to market" mantra, but it does come across as a bit self-serving. We've been working with our clients to get more aggressive, but not necessarily by spending more money.
Economic downturns are always good from one perspective: it weeds out the weak. And we know there are some very weak legacy advertising and marketing spending habits that need weeded out. The urgency to get results can finally push slow-to-change marketers to try out search engine marketing, for example, or perhaps build a targeted relationship marketing program vs. wasting another untargeted print ad.
How is your organization getting more focused?
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