When times get hard and budgets get tight, above the line ad spend in particular should be the first area to cut, as it is expensive and can potentially be difficult to measure and prove the return on investment. Next comes print and mailings - especially when looking at response rates against the cost of production and distribution. Then there's the pressure of the ‘environmental cost’ that the print sector faces.
Digital marketing spend however, is where the wise money is being spent - precisely because it is both measurable and can demonstrate outstanding ROI.