The recession rumbles on. For many small companies it’s tough out there and everyone is doing their best to reduce costs to maintain profits. Some companies are cutting their marketing spend without realising they could be cutting their business lifeline! Be careful what you do…

In 2008, research from the PIMS (Profit Impact of Marketing Strategies) proved that, to come out of a recession on top a business should maintain its marketing spend. Those who continued to invest in marketing during a recession achieved significantly higher returns as the economy recovered, gaining an additional 1.3% of market share.

We all need to think about marketing in a different way. Is it a cost or is it an investment in your business? Is it an expense or an asset? Is it a tax or an opportunity? Is it an investment or a risk? We shouldn’t be cutting our marketing spend but thinking about how we spend it, spending it more wisely, being smarter, more targeted!