Host-Read Ads 33

Brand marketing is an easy target that CMOs face pressure to minimize in times of uncertainty. Since the explosion of inflation last year, major cuts in the tech sector, the Russian/Ukrainian war, and the escalating political issues in the US and frankly everywhere. Brands are struggling to make decisions, and marketing is the first place they cut. CMOs resist cutting their budgets because how else do you expect to remain relevant and meet long-term goals if you are not marketing your brand?

Research indicates that reducing brand marketing budgets in downturns backfires, and the minimal savings from cutting budgets impacts future profits significantly. Here are five tips on what to do instead:

1. Double down on the right customers - can you solve more of their problems? can you help them increase their growth? Tighten your relationships with your long-term customers and build resilience.
2. Market smarter instead of cutting budgets - brands who continue to market in a downturn stay relevant and gain market share when their competition slashes budgets.
3. Strengthen your analytics - be sure you are monitoring your marketing progress and have the tools in place to gauge traction - include post-purchase surveys on all campaigns and then refocus marketing efforts on what is working.
4. Let your existing and new clients know that you are here for them - give them an uncertain times bonus because we are ALL in this together.
5. Remember that recessions do not last forever, and if you can avoid cutting your marketing budget, then you will be better positioned when the bounce-back period happens. Do not be short-sighted as the long-term impact will be greater.

If you are interested in advertising with TWiT because you understand that marketing needs to happen if you are going to sustain uncertain times and want the gold standard in podcast advertising, then please email advertise@twit.tv, and we will get back to you ASAP.

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