As Goes the Economy, So Goes Marketing?

Yeah, that’s not backwards.

Those of us in the heartland, like those of us in the South and the West and the East, have been feeling the pinch for about 12 months now, give or take a year.

Outside of the lucky and the elite, you know, those Goliath and/or super hot (aka, firm du jour)agency’s supporting the biggest and best funded organizations, agencies are feeling the pressure. They may not all admit it, in fact, many of them will deny it, but below the bellweather mark of the Fortune 100, most clients are already feeling the sting of a weakened economy.

And as goes the economy, so goes marketing. It is pure insanity. At a time when marketing is about the one and only surefire way to help an organization bolster or shift strategies and strengthen sales, what do most comanies do? Cut and run. Brilliant.

Marketing research will help an organization understand what is happening in the marketplace and identify opportunities for growth.

Strategic planning will ensure an organization is focused on primary audiences and objectives with appropriate tactics designed to achieve those objectives.

Tactical marketing deployment – advertising, publicity, direct mail, trade show marketing, online marketing, etc. – will build awareness, enahnce brand, cement loyalty, drive traffic and increase sales.

But by all means, listen to accounting and cut back. If marketing are the wheels that drive a company – and it is – then what could be smarter than to remove the wheels? Oh, I don’t know; not cutting back? Maybe even bolstering your marketing initiatives?

If you want to be a leader, you have to lead.

As goes marketing, so goes the economy. Put your money and your efforts where it will do the most good. When was the last time accounting brought in new business? How about HR or the legal department? As goes marketing, so goes your organization.

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