From the CMO Site, here are the results of an informal poll answering: "What is your primary strategy for marketing through the sustained downturn?"
Over a third are moving more of their marketing mix online and toward social media. These channels are typically less expensive than TV and print advertising, thought the ROI on social media has proved difficult to track.
Cost cutting measures (without reducing staff) include travel budget restrictions, cutting perks and extending the life of equipment.
The thirteen percent that responded by "investing in becoming a data-driven enterprise" may be better positioned than their competitors when the economic slump lifts. CMO Site editor in chief Mitch Wagner cited a "common piece of business advice: Take advantage of a down market to invest in the business, and then come roaring back when prosperity returns, while your competitors, who cut costs during the recession, are unable to meet the increased demand."View Original Article