With social marketing’s explosion a few years ago, there’s no way to get around marketing when it comes to increasing traffic for your business. Cutting costs here will lead to disastrous results and the ROI in marketing expenditures is worth the extra money put into it. Whatever the reason for cutting costs, it’s imperative to focus instead on raising sales to cover the cost of your marketing. When revenue is tight, don’t look to cut your business expenses, but focus efforts on increasing customer base instead.
- Cost cutting is often the first impulse, but beware cutting quality or service that will hurt revenue.
- Rather than looking to slash expenses, find ways to improve income and sales to boost fiscal health.
- Your brand is everything; build it, backed by strong marketing, and use both to grow your business.
“Start with developing a strategy. Make sure your brand promise is in place. And develop a marketing plan … and then implement it.”