Successful Austin Businesses Do NOT Cut Marketing Budgets

If money is tight and your business isn’t pulling in a lot of profit – say you’re in a recession, or COVID has brought about hardships to your company– you might be trying to find ways to reduce spending. Many Austin business owners might look to their marketing budget as the easiest thing to cut. However, this would be a major mistake.

If you want your business to do well long-term, marketing is the key. Cutting the money you spend on getting your name out there will only decrease your chances of sticking around. Consider what would happen if you cut your marketing budget, but your competitors do not. Suddenly, your brand is disappearing from social media and Google, and their name is cropping up even more when met with less resistance.

If you want your business to do well long-term, marketing is the key. Cutting the money you spend on getting your name out there will only decrease your chances of sticking around. Consider what would happen if you cut your marketing budget, but your competitors do not. Suddenly, your brand is disappearing from social media and Google, and their name is cropping up even more when met with less resistance.

In times like the current pandemic, you’re presented with an opportunity to reshape your brand and your message. Use this opportunity to appeal to the public with sensitivity, and try to market your services in a way that they’ll appreciate. Maybe you have a new product that provides some kind of much-needed joy or stress relief, or maybe you’ve partnered with a relevant charity recently. Instead of cutting your spending on ads, use advertising to get the word out about who you are and how you want to connect with customers during this time. Even if consumers aren’t spending as much these days, they’re still hungry for content and connection. Keeping your name out there will grow your audience and find you some new loyal followers.

 

Cutting a marketing budget can set you back and make it difficult to grow again later on. For instance, if your position on Google drops down to page 2 or 3, it can take a very long time to get it back up to page 1. If you lose social media followers because you aren’t posting content or staying relevant online, it can be hard to gain them back. Talk with your team and see if there’s a way you can maintain your reach during hard times, rather than scaling back and losing progress.

 

This may be the time, if anything, to up your marketing spending. Get people excited about your business at a time where the world is looking bleak. Launch new products you may have in the works, spread your new ideas or brand messaging, and engage with people online. During a pandemic, people are spending more and more time at home, online, and looking at their devices. If your name pops up regularly, associated with positive branding, your business will stick in their minds. 

 

Your marketing team will likely have many ideas for how you can stay relevant during tough times. You can likely find cuts to make in other areas of your business, and your team will help you with this as well. But one thing is for sure: cutting a marketing budget will only help you to lose progress and steer you off course from your goals.