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What to think about before you cut your marketing budget
Manage episode 439212097 series 3436834
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It has been a challenging couple of years for many companies in the HR tech space – as many have struggled to hit revenue targets. There have been less buyers in the market. And those that are looking to make a purchase often take longer to decide. Revenue shortfalls can put companies in the position of having to make tough decisions to keep the business healthy – and that often means that marketing investments get put on the cutting block. But is slashing the marketing budget a smart move when growth is the mission?
(00:00:21) The challenges faced by HR tech companies
(00:01:15) The pressure on marketing budgets during revenue shortfalls
(00:04:37) The potential consequences of deep cuts in marketing budgets on long-term growth
(00:05:58) Identifying essential marketing programs before making cuts
(00:08:13) Importance of continuous marketing
(00:09:10) Companies that invest in marketing during downturns seeing better recovery
(00:10:28) How to determine which marketing programs to cut strategically
(00:12:24) Continuing to build brand awareness and trust for future sales
(00:13:30) The potential negative impacts of cutting marketing programs on brand presence
(00:15:16) Stay focused on maintaining market momentum
The Demand Gen Fix is hosted by Deanna Shimota, CEO of GrowthMode Marketing. Listen to our team of marketing experts and featured guests drop knowledge on how HR tech companies can maximize the success of their marketing for today’s B2B prospects. Learn more at www.growthmodemarketing.com.
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