Marketing and training during the crisis
W hen the economy is in a downturn, marketing and professional development usually follow suit. As a result, marketing itself falls into crisis during tough times. Along with personnel costs, marketing expenses are among the first and most targeted areas for cuts within companies. Strategies are, so to speak, put on hold.
When the economy is in a slump, marketing and training are usually too. In times of crisis, marketing itself gets caught up in the crisis. Together with personnel costs, marketing expenditure is one of the first and preferred items to be cut in companies. Strategies are virtually overridden. Even empirical studies that prove that anti-cyclical behavior in both advertising and training is the right approach in the long term are of no help. Should we be surprised? No, because we marketers have long known that people do not (only) act rationally. No matter how much emphasis is placed on fact-based decision-making methods in further education courses. When we are confronted with fear, the cerebellum gains ground and we fall back into reflexes we thought we had overcome. The general uncertainty in an economy spreads to individuals and clouds the clear view even on the carpet floors. Our heads are no longer clear and decisions are made with worry lines on our faces. But there are others who not only pursue a differentiation strategy, but also implement it in a differentiated way. Those who do not cut the marketing budget in times of crisis gain attention and can reap the rewards in the good times ahead. This also applies to companies that do not cut their training budgets in difficult times. They promote a high level of employee motivation and loyalty. What do you do?
