undertake an independent audit at least annually No-one in business wants to spend any more than is absolutely necessary on marketing. At the same time, everyone in business wants to maximise sales and, ultimately, profitability. Sometimes, these objectives appear to conflict with the aim of reducing marketing and advertising expenditure. They may even be seen […]

undertake an independent audit at least annually No-one in business wants to spend any more than is absolutely necessary on marketing. At the same time, everyone in business wants to maximise sales and, ultimately, profitability. Sometimes, these objectives appear to conflict with the aim of reducing marketing and advertising expenditure. They may even be seen as a sure way of reducing sales.This is the first in a series of 5 thoughts examining this perceived conflict and outlining action that can be taken to reduce marketing and advertising expenditure without impacting sales. For years, lazy and greedy advertising agencies have propagated the view that in order to increase sales a business must increase its investment in advertising and, conversely, that decreasing advertising expenditure will lead to a reduction in sales. In 2017 one of the world’s biggest advertisers decided to put this theory to the test – sacking 50 advertising agencies…