Businesses are tightening their budgets and many of them are cutting their marketing budget. I understand that these times are tough and I know that many companies are even laying off employees, but it is important to understand that cutting your marketing budget can often cause more harm to the growth of your business than you realize.
Studies have shown that companies that continue to market during tough economic times often see growth during those times, where businesses that cut their marketing budget will often see a decrease in sales.
It's not time to cut the marketing budget, it's time to re-evaluate your marketing and analyze what is working and what's not. Take time to explore new options of marketing that cost less, but can still deliver the results you are looking for.
We cannot ignore these financial difficulties that our country is facing, but today I want to help you understand the importance of marketing during a recession, learn how to set a marketing budget that you can work with, and explore popular no cost to low-cost marketing tips that you can begin implementing today.
By Laura Lake, About.com Guide to Marketing since 2003