Recession. The word is enough to strike fear into business owners’ hearts. Naturally, they start looking for ways to trim any expenses they can. And those cuts could impact everyone from the CEO to front-line employees to the people companies serve.
While the ultimate goal is to keep the business afloat, slashing marketing budgets isn’t always wise. A lean strategy can still include ample marketing spend on activities designed to support growth. Even in a recession, businesses can grow. It may sound counterintuitive, but historical data backs this notion up.
Companies that kept spending on marketing and advertising during previous recessions outpaced the competition. In the