{"id":1238,"date":"2020-06-17T16:23:09","date_gmt":"2020-06-17T16:23:09","guid":{"rendered":"https:\/\/www.incentivesmart.com\/blog\/\/"},"modified":"2024-09-11T09:57:05","modified_gmt":"2024-09-11T09:57:05","slug":"reducing-your-marketing-budget-the-real-impact","status":"publish","type":"post","link":"https:\/\/www.incentivesmart.com\/blog\/reducing-your-marketing-budget-the-real-impact\/","title":{"rendered":"The Real Impact of Reducing your Marketing Budget"},"content":{"rendered":"<p>When businesses start reviewing their finances, particularly during an economic downturn, marketing activities can sometimes be classified as expenses. In fact, Forbes reported\u00a0that the proportion of company revenue allocated to\u00a0<a href=\"https:\/\/www.forbes.com\/sites\/avidan\/2021\/07\/26\/marketing-budgets-continue-to-fall-sharply-in-2021-according-to-a-new-survey\/?sh=485d971a4d06\" target=\"_blank\" rel=\"noopener\">marketing was cut almost in half, from an average of 11% in 2020 to just 6% in 2021.<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>There\u2019s no argument that core operational costs like production, rent and wages should be prioritised in order to keep your business functional, but entirely seizing your marketing efforts may do more harm than good. By not understanding the metrics or clearly seeing the ROI, companies may fail to spot the opportunities that marketing creates, prompting swift and heavy-handed decisions that will have a long term effect on business.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When businesses start reviewing their finances, particularly during an economic downturn, marketing activities can sometimes be classified as expenses. In&#8230;<\/p>\n","protected":false},"author":10,"featured_media":1239,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","topics-customer-loyalty"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Real Impact of Reducing your Marketing Budget<\/title>\n<meta name=\"description\" content=\"Companies may fail to see the opportunities that marketing creates, prompting a swift cut to the marketing budget causing long term business effects.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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