As a fractional CMO (Chief Marketing Officer) and long-time marketing executive, I’ve been told countless times that the marketing budget needs to be cut for one reason or another. In 2022, after a pandemic and at the door of a recession, “cutting the budget” is a constant refrain. No matter how many times I point out that marketing during a [...]
Marketing executives have a tough job in the manufacturing industry. Convincing the CEO and CFO that marketing is a revenue generator and not just another expense is difficult. There are a few reasons for this, the first of which is, well, that’s just “the way it has always been.” And the reason it has always been done this way is [...]
With all signs pointing to a recession in the near future, there is one absolute truth all companies must keep in mind: Marketing during any financial downturn is a must. We’ve covered some of the strategies you can put in place in the past, but stretching marketing budgets and making the most of free or low-cost marketing options like social [...]
On the surface, it seems to make sense. When a financial downturn hits, budgets get tighter, so something has to go. For some companies, that means layoffs. For others, it might mean changing formulas or sizes for their products to save money. And for many others, marketing gets the axe. We can make a case for the first two solutions, [...]
