In times of crisis, don’t cut your marketing budget.

Before we go any further,

let’s be clear:

this isn’t just my opinion –

it’s backed by data.

According to Gartner’s 2023 CMO Spend Survey, 54% of CMOs experienced budget cuts, with brand-building and paid media being the first to go. HubSpot found that 44% of small businesses reduced their marketing spend in response to economic uncertainty. But history tells a different story about the wisdom of those choices: companies that maintained or increased their marketing efforts during past recessions saw up to 256% higher sales after recovery, according to a McGraw-Hill study. (ref)

This one is for marketers—and the leaders who manage them.

To the marketers: Fight for your budget with data. Own the responsibility of your strategy. You built it with purpose, so protect the parts that build long-term value. You know what’s needed to maintain relevance, connect with your audience, and support growth. Don’t let fear shrink your vision. Be the voice that explains why it matters.
To the CEOs and Directors: I know you’re making tough decisions. It’s not easy to steer a company through a downturn. But before cutting the marketing budget, pause and consider what you’re really trimming – your future visibility, your brand’s momentum, and your pipeline for long-term growth. Marketing can be a powerful growth engine, especially when times are tough. When you underinvest, you’re not saving money. You’re deferring progress.

And I get it – I’ve lived it. When revenue drops, leadership turns to marketing and asks where to cut. Suddenly you’re combing through your carefully built plan trying to figure out what can go without causing too much harm. But you built that strategy for a reason. Every piece of it supports growth.
Typically, the first thing to go is events. They’re expensive, logistically demanding, and hard to measure short-term ROI. But in a digital world, face-to-face moments still matter. Your clients still need to see you, talk to you, and yes – touch your product. A spec sheet might say a product is ruggedized, but until someone holds it or sees it working in a fishbowl (true story – we did that once and the booth traffic was incredible), they don’t really feel it.
So next time there’s pressure to cut, don’t just react -reflect. Marketers, be ready to defend your strategy. Leaders, be willing to see marketing not as a line item, but as a lever for recovery and growth.

Because visibility, relevance, and connection aren’t optional. They’re your business lifesaver.

Data References

1. Gartner 2023 CMO Spend Survey
   ➤ Source: Gartner
   ➤ Key stat: “54% of CMOs experienced budget cuts in 2023, with reductions primarily targeting brand-building and paid media.”
   ➤ Link to source
   
2. HubSpot Marketing Trends Report 2023
   ➤ Source: HubSpot
   ➤ Key stat: “44% of small businesses reported reducing their marketing budgets in response to economic uncertainty.”
   ➤ Link to HubSpot’s blog or report (Note: For precise numbers, use their full downloadable report)
3. McGraw-Hill Research (1980s Recession Case Study)
   ➤ Source: McGraw-Hill
   ➤ Key stat: “Companies that maintained or increased their advertising during the recession experienced 256% higher sales than those that cut back.”
   ➤ Often cited in business strategy literature and marketing white papers. The only ref I got is here