Marketing investment in COVID-19 (or other downturns) – 4/1/2020
4/1/2020 Sales are down! We have to cut costs! Whoa, stop that train of thought for a sec… Sometimes people believe things that aren’t true, such as believing that bulls (which are colorblind) hate the color red. There are many reasons that smart people believe things that aren’t actually true, such as the confirmation bias, where people will often unknowingly go to great lengths to find evidence to support what they already believe. It’s scary to go through a downturn, and it may mean unpleasant decisions like cutting valued staff or other resources. In the face of declined revenues and increased stress, the idea of not cutting and potentially even increasing costs does not make sense to the vast majority of people, including marketers. But if marketing is driving sales, what do you think will happen when you cut it? Consider this question – do you no longer…