As a start-up or scale-up company founder, you understand that having a strong marketing strategy is crucial to drive growth and revenue. However, with economic headwinds and uncertainty, it can be tempting to cut back on marketing budgets. In this blog post, we'll explore why protecting your marketing budget during uncertain times is key to driving growth and how a fractional small business exec can help you develop a strategic marketing plan that delivers results.
Despite economic uncertainty, only 11% of firms surveyed by in my Winter 2023 SME survey suggested cutting back on marketing this year, and 46% anticipate increased marketing budgets. But what is the impact of investing in marketing in a tougher economic climate, and why should you protect your marketing budget?
During the 1981-82 recession, a study by the Institute of Chartered Accountants in England and Wales showed that firms that continued to invest in marketing saw 256% more growth coming out of that period than competitors that reduced or eliminated budgets.
This is a compelling argument for protecting marketing budgets, especially in times of uncertainty.
As a start-up or scale-up company founder, you're always looking for ways to grow your business and stay ahead of the competition. By investing in marketing, you can increase your brand awareness, reach new customers, and ultimately drive revenue growth. But with limited resources and budgets, it can be challenging to know where to start.
This is where a fractional small business exec can help. By hiring a fractional small business exec, you can get access to a network of experienced marketers who can help you develop and execute a marketing strategy that will drive growth for your business.
A fractional small business exec can work with you to understand your business goals, target market, and competitive landscape to create a customized marketing plan that delivers results.
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