Why now is the best time to crank up your marketing
Leaving marketing out of your budget is almost a recipe for disaster – but you know this already… Chances are, you’ve looked at your marketing budget for 2010 and reasoned that at least some of that money would be better spent elsewhere. With the economy in a downward spiral, you are not alone as an executive calling for cuts across the budget spreadsheet.
Take a deep breath, though, before you start cutting. Experts say that while some cutting is necessary, this is actually the time to take advantage of a marketing environment that is less cluttered , less expensive and ripe with opportunity for smart businesses. “You can actually spend less because there is so much competition for your ad dollars, so it is generally less expensive to get your message out. Spend less, but don’t stop marketing altogether.”
Even at the highest levels, most companies are pressured to change the budget or get more for your buck! Don’t cut marketing, but look at ways to use it differently. Some clients can decrease their overall marketing budget and still increase the ROI by using a different media mix. All clients want efficiency, no matter the budget. Consider shifting more money and resources into public relations and new media to keep the ROI up and still spend less money. PR is long on creativity and short on cost!