Graham Bailey - Marketing Blog

As more and more companies feel the impact of the credit crunch and all it’s associated impacts, there comes the need to save costs wherever possible. One of the favourite pots to raid has always been training and new product development, as they do not give an immediate return and can therefore be cut with no apparent effect. So far, so good - however one of the very real hidden dangers is the fact that we are storing up problems for the future as when the economy recovers we will neither have the products or people skills to take advantage of the upturn.

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

I am working on a number of programmes which look at ways in which organisations can profit from the current situation and will keep you posted as these ideas and programmes develop. Don’t cut the very things which are your future profit earners!