Why a Recession Is the Worst Time to Skimp on Brand Marketing
Posted Jul 27, 2022
Stocks are slipping, tech growth is halting, and bubbles are bursting. If you haven't already felt it, you're bracing for the impact. When markets start to shift, businesses are forced to quickly pivot and adapt to minimize fallout. In tech, we're seeing this play out in the form of budget cuts, mass layoffs and hiring freezes.
There's no denying that some of these reactions are justified, albeit unfortunate. A 10+ year economic boom gave way to inflated growth trajectories, overvalued startups and unprecedented hiring. But the wake of casualties left as a result provides a rare peek behind the curtain. When the going gets tough, how do priorities shift? Who or what is the first to arrive on the chopping block? Do these cuts align with the goals and vision defined by the company, or are they merely a band-aid designed to ease the fears of anxious investors?