Prioritise data. Focus on winners. Focus on the consumer. Focus on lifetime value. Complete an audit.   Economists tell us that while there will not be a recession in Australia in 2023, the rate of growth in the economy will slow from 3.5% in 2022/23 to 1.5% in 2023/24. While this outcome may be better than the many countries around the globe that are looking down the barrel of a recession – it highlights the importance for all businesses of reviewing marketing costs and eliminating waste. That said, there is never an excuse for accepting waste in advertising. Research suggests that 33% to 60% of marketing budgets are wasted. Every year every business should do whatever it can to reduce the cost of marketing by identifying and eliminating waste while, at the same time, ensuring that every marketing dollar is invested as productively as possible. Every marketer is responsible for ensuring that the return…