I have often heard the following thoughts in my marketing career: We didn’t grow our revenue, so we cut the marketing budget. Few new customers signed up for our services, so we cut the marketing. Profits plunged, so we cut the marketing. We didn’t meet our forecast, so we cut the marketing. To make our profit forecast, we cut the marketing. We know it is short-sighted, but we cut the marketing budget anyway.
If I had four hours to chop down a tree, I’d spend the first two hours sharpening the axe. Abraham Lincoln
Marketing Budget
Why is it that when companies aren’t succeeding, the reflex is to cut out back on the marketing budget? Maybe, the problem isn’t with marketing spending, but it is something else.
- Poor leadership with dull strategies.
- Unclear goals that are overgrown.
- Cloudy targets that can’t be seen.
- Shifting strategies that sway with the wind.
- Not meeting promises you made to customers and suppliers.
- Undercutting trust through compromise, or worse, deception.
- Unmotivated associates who seem lost in the woods.
- Distracted sales team with too many top priorities.
- A culture hurt by mismanagement.
- Bad data that was never pruned.
Root Cause
Before you cut, maybe you should ask yourself, what is our root problem, and how can we change our approach?
Marketing is an easy target but perhaps you aren’t seeing the forest for the trees.
Does your business need a marketing coach, guide, or sherpa? Are you generating enough leads? Is your marketing underperforming? I can help.
You can set up a time to chat with me about your marketing challenges using my calendar. Our initial conversation is free. You talk, I listen. Email me jeffslater@themarketingsage.com or call me. 919 720 0995. Visit my website at www.themarketingsage.com Let’s explore working together today.
Photo by Johannes Plenio on Unsplash
