When sales drop off, marketing budgets are typically the first to get cut. I know. I turned toward journalism the last time I was cut from a marketing budget in 1999 (surprise!). So, what should you do if your marketing budget is slashed? While your management wants you to react immediately, you know that an ill-considered elimination of marketing support can quickly translate into a disastrous drop in sales, according to Heidi Cohn.
Cohn takes us through ways to redirect your marketing budget to maximize results by outlining three steps to consider your current business situation, and three strategies to redirect remaining marketing dollars. She reminds us that in hard times, it's even more necessary to use your analytic tools and marketing creativity to get the most bang for your marketing dollar.