Me and Shakespeare, we have a way with words.
In a slow economy, business owners and executives fall cleanly into two categories:
- Those who have decided it is going to be bad, cut expenditures to the bone (including their marketing budget) and wait for the storm to pass.
- Those who have decided they aren’t going to have a recession in THEIR company, and so increase their marketing budget and/or work on improving the effectiveness of what they are doing.
There doesn’t seem to be a middle ground on this. It is one or the other.
I’m not faulting anyone who takes Road Number One. I just strongly recommend Door Number Two. The companies that come out of this downturn bigger and stronger are all going to be in Group Number Two.