Marketing & The Credit Crunch

As more and more construction businesses feel the impact of global economic difficulties and the credit crunch there comes the need to save costs. One of the favourite pots to raid has always been training, new product development and marketing activities, as they do not give an immediate return and can therefore be cut with no apparent effect. One of the very real hidden dangers is the fact that we are storing up problems for the future as when the economy starts to recover, we will neither have the products/services or people skills to take advantage of the upturn.

There is considerable evidence from previous recessions that those businesses who continue to invest in their products, people and marketing activities emerge quicker and fitter from the difficult economic times than those who cut these areas of spending significantly.

Don’t cut the very things which are your future profit earners!