Cost cutting AND smart investing

We’ve all been experiencing the discomfort of the economic recession, especially when it comes to the massive cuts most companies are making with respect to training programs, marketing budgets, and anything that could be perceived as ‘fat’. What’s unfortunate is that most companies don’t realize that now is the time to be investing in building and strengthening the relationship with your customers; if you serve them well during a time of crisis they’ll stay loyal to your brand.

I was happy to experience first-hand a decision taken by the executive management team of one of my clients demonstrating that it’s not just about cutting costs, it’s also about making smart investment choices that will sustain and support growth in the future.

For the last few months I’ve been working with this client to develop a brand engagement program. It was born out of a customer feedback process, which demonstrated that they were underperforming in delivering their brand promise. Rather than addressing this via advertising and other non-behavioural marketing tactics, and since they are a service-based company, the HR and Marketing departments struck up a partnership to develop a program that would support employees in living the brand and values. Now that the project is approved I’m really excited to make it happen!

When I found out about this decision, it got me thinking about the organization I currently work in and also in my own life; am I just cutting back or am I also figuring out which investments I can make now that will pay off hugely in the future?