Danger... Danger... 9 of 10 Businesses to Cut Their Marketing Expenditure

A report out this week by PriceWaterhouseCoopers claims that the current economic downturn has severely affected business confidence in Australia. As a result, 9 out of 10 (of the 750 private businesses surveyed) say they will cut marketing costs.

How dumb can you get!

(Aside: they need to attend my marketing planning workshop in Sydney Oct 30)

And I'm not just saying it's a dumb thing to do because I work in marketing.

It is well known that marketing creates new business. To cut back on marketing because it is seen as a luxury, or 'expendable', is just plain poor business management.

Often these decisions are made by the bean counters who control the purse strings within the company.

Now look... I know many nice accountants. But the nature of their profession makes most of them focus on how to reduce costs. Not how to maximise profit.

Don't become a victim to others peoples fears.

Make your own decisions about how successful you want your business to be.

You certainly do need to manage expenditure. But be prudent and make smart decisions to build your business. Don't just throw up your arms and say... we have to cut costs, at any cost.

If you are in Sydney, why not consider attending my 2-minute Marketing Plan workshop on October 30. At the workshop you'll learn all about how to stretch your marketing dollar and choose marketing tactics that will work for your business.