From Haircuts to Budget Cuts

FROM HAIRCUTS TO BUDGET CUTS

As our firm finished our fiscal year a few ago in the midst of the pandemic, our teams were asked to cut budgets and cease spending across the board. As this was my first experience having to complete this exercise, I set out online looking for guidance and found a helpful resource tailored to my exact situation (Thanks SEO!) The article title 'An Entrepreneurs Guide to Long-Term Marketing Strategies Amid COVID-19' provided me a few key takeaways:

• Lowering budgets across each channel equally produces long-term negative effects on sales
• Focus on core products and core customers
• Let qualified experts give advice
• Don't use the crisis as a public relations stunt
• Continue ESG focus and market messages that communicate how the company is part of the solution

SOURCE:
https://thenextweb.com/podium/2020/04/16/an-entrepreneurs-guide-to-long-term-marketing-strategies-amid-covid-19/