The last few months have been tough for small businesses. A natural reaction is to make spending cuts, and I get that. But let me explain while slashing your marketing budget in tough times is a bad idea. And, let’s look at some ways to save money without ditching marketing altogether.
My home base is Asheville, North Carolina, which was hit by a devastating tropical storm in late September 2024. Helene did significant damage to Western North Carolina as well as Eastern Tennessee and parts of Georgia and Florida. Then, wildfires ravaged California (and hit our mountain area in the spring too). Now, everyone is worried about tariffs, rising costs and the “r” word (recession).
It’s enough to make any business owner want to crawl under the covers and hide. Many small businesses that survived COVID were just starting to get back on their feet and repay loans. More hits from natural disasters and economic uncertainty are daunting for sure.
Most businesses have seasonal shifts. This is nothing new. Retail businesses make the bulk of their revenue during the holiday shopping season. Landscapers are at their peak in the spring and summer. Attractions thrive during summer vacations.
Even those in the professional services have seasons that are busier than others. Personally in marketing, I’ve found the middle of summer to be a slower time. It makes sense as people are traveling and enjoying their summer.
But what happens when your business hits an extended slow period or when an economic downturn is looming?
A common knee-jerk reaction is to cut any expense not deemed mission critical. That might include business travel to conferences, extra support staff, and marketing budgets.
But here’s the thing: Cutting your marketing budget might be the worst move you can make in hard times.
When revenue drops and expenses rise, it’s easy to panic. For many business owners, marketing is one of the first line items to go. But cutting off your connection to customers during a slow season puts you even further behind when things turn around.
I’m not saying don’t assess your marketing. It’s smart to regularly review business expenses. If you’re paying a monthly subscription to a piece of software you never use, by all means, cancel it.
Before you make any marketing cuts, do these 3 things.
First, analyze your current marketing efforts. Are you getting a return on your investment? If you’re dumping hundreds of dollars into social media ads with little to no return, maybe that’s an area where you can scale back or refine your ads so they actually work. Some efforts may need a tune-up rather than a teardown.
Second, make sure your marketing foundation is solid. You want to look at three critical areas:
- Messaging. Is your marketing message clear and compelling? You have to clearly explain to potential customers and clients that you understand the problem they are facing and you have a solution to help.
- Website. Your website should be pulling its weight generating leads and sales for your business. Hint: if your messaging isn’t right, there’s a good chance your website isn’t working for you either. [Video: Why you should invest in a professional website]
- Email marketing. You should be building your email list and sending emails to current and potential clients consistently. Hint: How can you use social media to build your email list?
Third, review your offers. Do you need to tweak your offer during a challenging economic season? That doesn’t mean you have to charge less or offer deep discounts. You may simply need to package services differently or offer a new service/product that speaks to a current pain point and solves a problem in this season.
Reduce but don’t eliminate your marketing budget.
If you still need to make some hard budget decisions and trim your marketing budget, I get it. But don’t dump your marketing efforts completely.
Here’s why: Staying top of mind will get you back on top faster. Slow season or not, your customers still need to see and hear from you. Consistent marketing keeps you top of mind so when they’re ready to spend, they think of you first.
If you completely turn off your marketing spigot, you give customers time to forget about you. When things turn around (and they will!), customers and clients will be looking for your products and services. Because you were consistent in your communication, they’ll come to you first.
Need an affordable way to stay consistent in your marketing?
That’s exactly why I created the Fuel For Your Marketing Collective. This monthly membership is for small businesses and solopreneurs who want marketing training, resources, and support – and at a price point that fits every marketing budget.
Join the Collective for $77/month to get:
- Live monthly training (replays if you can’t attend live)
- Practical resources, tools, templates
- Monthly office hours for marketing Q&A
- A supportive community of peers
- Guest speakers
The best part is we’re covering actionable, results-oriented marketing topics. No fluff here! Just solid training and tools to help you grow your business in any season.
For $77/month, you’ll keep your marketing going strong at a budget-friendly price point. Join the Fuel For Your Marketing Collective today.
Don’t go dark when times get tough. Smart, steady marketing now will set you up for success later.
