As a responsible business owner, you are always looking for ways to cut costs while increasing your bottom line. When costs out measure your revenue, you try to find a solution, like decreasing inventory or cutting unnecessary services. Trust us, we understand. However, marketing should never be the first thing you slash when faced with budget cuts.
There are many reasons why you should prioritize your marketing, whether digital, traditional or both.
But First… Why Is Marketing Usually Cut First?
Marketing is viewed as a nonessential service. During any low financial points, including recessions, companies often find themselves occupied with paying salaries and fulfilling benefits. On paper, it may make sense to shortcut advertising spending; however, is it the smartest move?
Here are 4 major reasons why marketing should not be the first thing you cut.
Effective Brand Awareness Requires Strategy
Social media marketing is a great solution for brand awareness. Brand awareness takes time, but it is a worthwhile investment. Cutting any type of marketing, especially social media, sabotages the progress that you and your company made. Furthermore, random social media posts are much more ineffective at branding than a dedicated marketing strategy.
You Can’t Save Your Way to Profitability
Money that you cut on marketing will most likely be directed elsewhere. So, are you really saving money in the long run? Consider increasing costs in marketing for greater gains in sales, relationships and more.
You Run Into Major Risks Without Marketing
When slashing marketing budgets, you lose more than just a cool commercial or a snazzy social media post. You lose potential exposure and clients; you communicate bad credibility; you run a risk of customers choosing your competition over you. Ultimately, how else will you make more sales without marketing?
Digital Marketing is Booming
Digital marketing benefits both individuals and companies, especially because more people are spending time online, whether shopping, scrolling or commenting. Marketing online makes partnerships easier; marketing online encourages engagement with customers. It also proves that your business is adaptable and credible. There are so many opportunities in digital marketing that it is easy to offset the costs.
At the end of the day, you are the decision-maker for your business. Consider turning against the tide and embracing marketing, especially when your competitors may be doing the exact opposite. Schedule an appointment with us today so that we can find a digital marketing solution for you and your business!
Southern View Media is a digital marketing agency dedicated to helping local businesses navigate the digital marketing landscape. Visit our website at www.southernviewmedia.com to learn more about what we do. We Put You Online So You Don’t Get Left Behind!