Do you think twice now before buying that gorgeous new pair of jeans you don’t really need? What about your customers? If you’re worried whether you should be reacting to lower sales by slashing budgets, read on.

In periods of economic downturn, many businesses respond to the dilemma, somewhat desperately, by cutting huge chunks from their marketing budgets. They do this in the false belief that marketing dollars are not warranted, because marketing - as a means of gaining business - is rendered ineffective in such a climate. It’s the wrong response, and can often begin an ironic spiral downward - an act of saving money that leads to making less money.

If you’ve been in business for a long time, you are probably used to a marketing model that revolves around pushing your sales message to as wide an audience as possible – one-to-many communication. The television commercial, magazine advertisement and billboard are all about a single voice engaged in a one-way communication with a large audience.