Cutting costs has become a necessity for corporate survival, and the marketing budget is often the first one to be affected. But cost-cutting does not have to negatively impact growth and long-term success. In fact, it can actually serve as a catalyst for growth.
Many marketing leaders are facing tough decisions when it comes to reducing budget and trying to decide whether to eliminate programs, people, technology or a combination of two or three. In many companies each of these categories represents about a one-third of the marketing budget and none are useful without the others.