Often the Marketing Role in Turnaround Management is Crucial
David Lee, Business Consultant, United Kingdom, Member
I would go as far as to say that marketing is on many occasions the most critical element in business turnaround. As a member of TGBA, the turnaround specialist members of United Kingdom business advisors I and my colleagues see a wide range of companies in danger.
In many cases this has been caused by the recession with sales dropping to a below break-even level. If the company is well managed and has already cut costs where possible, the only way out of trouble is by increasing sales.
During 2011 I have developed & implemented fairly simple sales & marketing strategies that have taken 4 companies from the brink of disaster back into profit in months. In all 4 cases all that was required was a modest increase in profitable sales to lift them above break even and back into profit.
The most responsible thing to do then is ensure the company maintains a consistent, ongoing S&M strategy. Too many companies make the fatal mistake of cutting marketing in a recession, just when they need it most!