Saving your budget (and keeping your team employed) in a down economy really boils down to one word: profit. If you're not making money, you're losing money—and that's never good for business.
Just the other day I was on a plane to Vegas to meet with some partners, and aboard the flight were two teams of "axe men" going to shut down and slash their company's regional offices in that area.
These guys were a far cry from George Clooney's character in Up in the Air, but the results were going to be the same: lost jobs, possible foreclosures, not-sufficient-funds (NSF) checks, uncertainty, and more.
The bottom line is the bottom line, and that's how it always will be. So it's our job as marketing executives to protect the company, our department, and our teams and their families by thinking smarter, acting faster, and generating revenue for the company when it's needed most.
And when it comes to profit, ROI (return on investment) is everything.
ROI is boss
Look at the line items of your marketing budget daily, and constantly measure the results of each channel or tool in your marketing mix.
If print accounts for 80% of your bottom line and you haven't made major adjustments, you're probably in trouble. Consider rethinking your media buys in print and leveraging Web placement and search-engine optimization (SEO) efforts.