Cutting back without reducing your marketing
There come times in all of our lives or in our businesses when we feel the need to tighten our belts. This is a saying that has been around for as long as I can remember and will probably continue to be around for some time to come. Although it is prudent to look at our lives and business situations, reassess where we are and what we may need to do to tighten our belts, it is equally prudent to use caution in cutting back. Because these feelings of needing to cut back usually come in times of business slowness or reduced personal income, they may be accompanied by panic and rash decisions. Regrettably, such rash decisions often make our situations worse.
Unfortunately, the most common area where expenses are reduced is in marketing, which is exactly the opposite of what should be done. Although it is true that the expensive, unsuccessful advertising can and should be cut back, there are many very cost effective ways to promote yourself and your business. In fact, it is often the case that the least expensive forms of public relations and marketing can be the most effective in getting the results you want. The important point here is that you don’t cut back so much that your previous and potential clients will forget who you are.
Although you may feel the need to tighten your belt, just remember there are better ways to reduce spending than throwing away your future potential for getting the work you want. We just need to be careful how and where to cut back.