It is widely understood that during tough economic times, among the first things businesses cut is their marketing budget.But that needn’t be the case, says Callan Bassett, president and creative director of CB Market Solutions, a new marketing firm in Bermuda that promises big service for low cost.Operating out of his home, Mr Bassett and his five-person design team offer marketing planning and research, creative development, media planning and buying, public relations and event planning, at a fraction of the fees seen at traditional brick-and-mortar agencies.After graduating from Dalhousie University with a Bachelor’s degree in Marketing Management and Logistics, Mr Bassett went to work for BF&M in the marketing department for a year and half where he worked on several initiatives including event planning, public relations and coordinating graphic and web design projects.He then went on to advertising and marketing firm, AAC Saatchi & Saatchi, the largest integrated communications agency on the Island, where he learned the art of account management, that is, working with clients.“I’d meet with clients, take their budget considerations and then using those I worked with the design team to give clients what they needed,” he said.During his time at the advertising firm he found that clients, especially in the retail, restaurant and non-profit industries, didn’t have a lot of extra funds to conduct marketing activities.“It’s just part of the reality of the economic climate we’re in,” he said. “This often led clients to reduce the amount of marketing they did not because they felt they didn’t need it but simply because they couldn’t afford it.”That’s when Mr Bassett realised there was an opportunity that he could capitalise on.“If I could find a way to offer the same services and products but at an affordable rate, these clients wouldn’t have to choose between reduced fees and a high level of service,” he said. “I knew I could do it.”But striking off on one’s own can be a daunting prospect — particularly as Bermuda’s economy continues to struggle.“I’ve always had an entrepreneurial spirit,” said 25-year-old Mr Bassett. “I figure right now, I’m young, I don’t have a mortgage or children. I have savings in the bank. If ever, this is the time to do something like this. I figure I’d make a path and just go for it.”After speaking with the Bermuda Economic Development Corporation (BEDC), which provided Mr Bassett with advice and guidance on preparation of his business plan and development of his business model and what was required legally to start his business, he went to work finding his design team.He found them after visiting Bermuda College and speaking with the employment officer there who put the word out to graduating students trained in the design and creative fields. Soon Mr Bassett had several dozen resumes and art portfolios flooding his e-mail inbox.Today, Mr Bassett has a group of dedicated subcontractors, including graphic designers, web and virtual designers, a cinematographer, and a sound engineer.“They are young, trendy and artsy but more than that, they are hungry. Eager to get out there and put their skills to good use,” he said.Since his design team are subcontractors, Mr Bassett’s overhead is minimal, saving on hefty healthcare and pension costs.And, because CB Market Solutions is run out of Mr Bassett’s home, he has eliminated the costs associated with a brick-and-mortar office, including rent and electricity.“I’m able to pass those savings right along to my clients and we will work with their budget,” he explained, adding that he is able to charge between $90 and $95 per hour for his services where the typical agency might charge, he says, between $150 and $170.Since the launch of the company in May, Mr Bassett has attracted several clients, including completing projects for two Ministers — Marc Bean and Michael Weeks — as well as the Mount Zion AME church.From promotional flyers and newsletters to event planning and ticket creation, Mr Bassett says his clients have been very happy with his work.“I’m currently trying to build my client base, but things are going well,” he said. “Everyone I have worked with is very happy with our work.”While companies may continue to cut their marketing budgets, Mr Bassett doesn’t recommend the strategy for keeping costs down.“Marketing is essential, it’s one of the few departments that bring in money,” he explained. “Companies still need to market themselves, that’s how they get their sales up and the word out. A lot of companies are finding that it’s a downward spiral; lose money because of the economy, cut the marketing budgets to save money, which leads to less sales, which means they have to cut more.“So that’s when I realised that this Island needs is another option to get your word out there without breaking your pocket or risking the health of your company,” he said.For more information on CB Market Solutions, visit www.cbmktsolutions.com.