Keeping business afloat during a downturn is hard enough, consumer confidence is down, expenses still require maintenance so it's time to cut the marketing budget right. Or is it?  Some business owners see cost cutting as the ultimate answer and do so at their own peril.

Reducing debt and outgoing expenses is one way to ensure you live to fight another day however, cutting your marketing and communications budget may leave your customers feeling abandoned. Your competitors will see this cost cutting as their opportunity to spend on marketing and lead your customers away.

So whats the solution? Living to fight another day is important so budget reductions are inevitable but you have to be creative.

• Look for neat solutions to cutting costs
• Suppliers will want to secure their own incomes so use this to leaver better deals in your favour.
  focus on customer service (its free)
  Ask your staff for ideas
  explore other creative marketing and communication techniques which have a high yield for their dollar value
  Make an alliance with an associated business and work together to get through the down turn

Now more than ever it's important that your customers see they are getting value for money.

 http://isbm.smeal.psu.edu/library/working-paper-articles/2002-working-papers/15-2002-turning-adversity-into-advantage.pdf

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