Marketing Is Always the First Thing to Go in an Economic Downturn — But Cutting That Marketing Budget Is a Losing Strategy
FORT LAUDERDALE, Fla., July 29, 2022 /PRNewswire/ — Most business leaders will admit that marketing is a critical part of their company’s success. And yet, marketing budgets are consistently amongst the first things managers, CEOs, and CFOs want to cut when money gets tight. It’s a trend that Brian Gould of TruLife Distribution always finds alarming.
The marketing and distribution expert is very familiar with the ups and downs that come with the marketing game. Gould is a self-made entrepreneur who comes from multiple generations that have focused on the manufacturing and retail distribution industries. After a lifetime spent growing up in this world, Gould knows how quickly the C-suite tends to target the marketing department when the budget shrinks. "You can put numbers on most areas of business," Gould explains, "You can measure what your sales team is bringing in. You can see the revenue from your e-commerce site. Your overhead is a known quantity. But marketing? Marketing is an art. And as such, it’s harder to defend its associated costs."
The struggle to justify a marketing budget often means it’s one of the first things to go when the economy turns in a southerly direction. The pandemic is the most recent example of this phenomenon in action. In 2020, marketing budgets were slashed, many to the tune of 15% or more. In 2021, economic woes created by the health crisis continued to drag on. This led to Gartner releasing a report claiming marketing budgets had fallen from 11% to a meager 6.4% in the space of a year.
With persistent talk about a potential recession coming down the pike, marketing budgets could once again find themselves under pressure. It’s a tendency that Gould is always ready to fight. "It’s tempting to cut marketing since you don’t see the impact right away," says Gould, "but I always explain to our clients that you’re sacrificing future success for short-term security. If you want to succeed over the long term, you need to see things like a recession as a chance to look for opportunities and sow the seeds for future growth. That’s where TruLife Distribution can make a big difference."
TruLife Distribution is a marketing and distribution agency that specializes in providing quality services and expertise, often at a fraction of the in-house cost. It’s something that Gould describes as a "happy medium" between the need to cut costs and the desire to press in with marketing and sales when opportunities arise.
With so much uncertainty ahead, Gould and his team remain ready to deliver their suite of elite signature services. These span the gamut from FDA compliance and regulatory reviews to logistics, warehousing, public relations, PPC advertising, website management, SEO, and more. The brand’s prolific range of offerings provides a comprehensive and effective way for businesses great and small to outsource their marketing and distribution efforts. This can keep the marketing momentum rolling, especially when external events, such as a recession, pave the way for future growth opportunities.
About TruLife Distribution: TruLife Distribution is the brainchild of Brian Gould, whose extensive industry knowledge comes from both personal experience and familial expertise stemming from three generations of manufacturing and retail distribution professionals. His company has a robust brick-and-mortar distribution network, is run by a team of veteran professionals, and offers a full-service experience that includes sales, marketing, and distribution. Learn more about TruLife Distribution at trulifedist.com.
SOURCE TruLife Distribution