By KELLY K. SPORS

In a sputtering economy, small businesses are often quick to rein in their marketing budgets. But that may be a shortsighted strategy. Glum economic times can be an opportunity for small companies to make inroads on their competitors’ turf and re-energize their marketing efforts.

The Wall Street Journal recently spoke with Stefan Tornquist, research director for MarketingSherpa Inc., a Warren, R.I., marketing-research firm and unit of MECLabs Inc., about how small businesses can improve their marketing in a shaky economy and take advantage of some underused marketing channels. Excerpts of the discussion follow.

THE WALL STREET JOURNAL: Is the slowing economy affecting how businesses conduct marketing?

MR. TORNQUIST: Based on a survey we did in late February and early March, the largest group of small firms — those with 100 or fewer employees — surveyed are sitting and waiting to see what happens before changing their budgets. The second-largest said, “We think this is an opportunity,” and the third-largest group is pulling in [marketing budgets]. The caveat is that people who see the down economy as an opportunity aren’t spending their money in the same way. They’re taking money out of traditional advertising and direct-marketing campaigns and putting it online. That was a movement that was already taking place, but the economy is accelerating the trend.

WSJ: What challenges does the current economy present?

MR. TORNQUIST: The challenge is one of resources, of course, and matching messaging for their customers. Companies that have sold around [the idea that their products deliver high quality for a somewhat higher price] have to figure out whether that message will work out with their customers now. Maybe a better message is the longevity of the product and long-term value rather than something that implies high cost. Smart companies take a downturn as a reason to look at current customers and re-evaluate how these relationships can be expanded.

WSJ: What about companies that simply have to cut their marketing budgets? Are there ways to save?

MR. TORNQUIST: For one thing, they should negotiate prices on marketing expenses. That is an opportunity of a downturn, is that prices that used to be rock solid are now negotiable. If you used to get 10% off for a volume discount, now try to get 15%.