When businesses face tougher economic times, many pull their marketing budget. Most marketing experts would go against this strategy. Historical studies show that in previous recessions businesses that continued to invest in their marketing saw growth in their business while those that pulled their budgets saw a decrease in sales.
Be sensible with your budget and aim to get the most bang for your buck. This doesn't mean be cheap and get inferior materials to showcase your company. Invest in a well thought out creative approach will will add value, inform your customers and be of use for an extended period.
Creating media that can be used in various formats and platforms is one way you can make the most of your budget. Instead of a one-off use video or animation maybe make it slightly more generic so it can be used in presentations, on your website and in social media posts. Having multi use assets like this is a great starting place to build a business campaign.
Stay positive and remember there is always opportunity in every situation. So be brave, be smart and be creative!