And you thought your marketing department had an image problem!
Too often, businesses view marketing as a cost center and an easy target for financial cuts. A “nice to have” capability rather than the critical business function that it truly is. When the financial situation at an organization gets tight, most marketers are forced to justify their existence by clearly demonstrating the value they deliver. And many of us are successfully arguing that in a downturn, continuing to market effectively can both help you weather the economic turmoil and leave you ahead of the game when things improve.
And then congress attacks Northern Trust Company for continuing its marketing! Northern Trust, for its part, seems to get it. The decision to continue to work to keep clients happy and attempt to attract new business was clearly evaluated and the bank is unrepentant.
And kudos to the marketing staff over there for building that kind of support from executive management. It’s a goal for all of us to strive for.