Bosses told not to cut back on marketing costs
Wed 20 Feb 2008
Employers should resist the temptation to cut marketing budgets, one chief executive has advised. George Derbyshire, from the National Federation of Enterprise Agencies (NFEA) has warned that companies should look elsewhere when it comes to saving money. "It’s easy in times like these to take an axe to your marketing budget but you should resist the temptation to cut back on your marketing – it is more important than ever, he said" My Derbyshire added businesses should appreciate the significance of customer loyalty when faced with an economic slowdown. "It's easy sometimes to take existing customers for granted and concentrate on new and prospective ones," he explained. "But customer loyalty should never be taken for granted, it comes into its own when times are hard." Organisations often integrate their marketing and PR departments – as the skills needed for one are highly transferable to the other.
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