At first glance, I am willing to bet a lot of companies will cut their marketing budgets. Marketing is often viewed as an expense but let’s be real, marketing is an investment.
Another way to think about this is with your investment portfolio for example. During the last six months, you may have felt the urge to sell some of your investments. But if you listen to this podcast on the regular, you’d know that the best thing to do is to leave your investments where they are. Just like marketing—when investing for the long term—you may reallocate or recalibrate your investment, but you only truly “lose” if you eliminate them.
Whether B2B or B2C, your customers’ budgets are also in high demand. This is the time when attention needs to be gained, customers need to be educated, and value propositions need to get stronger.
