Marketing provides the fuel for your sales engine, boosting performance and helping you stand out in an increasingly competitive market. In difficult times it is wiser to look at how to maximise your returns rather than looking to cut your marketing spend.
Historically, whenever times are tough for a business marketing has been the first casualty in cost cutting. The justification behind this was that marketing was an expenditure - a nice to have, not a must have. The trouble with this strategy however, is that it can also lead to reducing productivity, the exact opposite of what you’re trying to achieve.
The message here is don't cut marketing, make it work for you.
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This article originally appeared on the Ask Us How website. NSW Business Chamber Members have access to this site, which features hundreds of practical articles and other resources to help you manage and grow your business.
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