Our top tips on making the most of tight marketing budgets

our-top-tips-on-making-the-most-of-tight-marketing-budgets

Published May 27, 2009

Refine how you target your communication…
The old fashioned approach to marketing was to refine your message and then identify every route and channel you could use to get this message across, but we find this approach is now SO yesterday!

The problem with this approach is that it assumed that your entire audience was interested in exactly the same message, unfortunately todays’ consumers expect more effort than this, they expect you to know what they’re interested in and pick out the relevant information for them only so that you only communicate to them about things they care about.

So when marketing budgets are tight, this is a great place to focus your time and energy. It’s all about improving your customer profiling data, from when did they last transact to what they bought and how they like communication to come to them. The better you know your customers, the more successful your communicate with them will be and more importantly the better value for money it will become.

And don’t think that this only applies to retail, it’s just as important in the b2b market as the the b2c.


Challenge online activity over printed matter…
Online activity, be it micro sites, eDM, viral campaigns, blogging or any of the many ways to get your messages across the world wide web, there is no doubt that online can be more cost effective than print and more importantly can be more tangible in it’s measurable results. By letting your audience vote with their mouse they will tell you whether they opened it, trashed it or if they read it, what they’re interested in. With reports on open and click thru rates available within minutes of deploying emails there’s no hiding which elements of your communication got through and which didn’t.
This doesn’t mean the end of the print industry, but like everything, it has it’s time and place. Online can be great when the target audience is huge as well as for very targeted messages going to specific groups, where as print can be better when the message is very serious or when targeting very senior decision makers.

Defend your budget from cuts…
There are some things in life that never change and defending marketing budgets from financial squeezes is common even in a good economy so this is a year to defend it more than usual.
The first thing to do is think like a boy scout and “be prepared”. Have a list of activity that you believe to be “committed spend” that you’d protect like your protect your mother, have a list of activity that you can give up like a sacrificial lamb (always making sure there are some political must have’s on this list that you’ve been trying to fend off for months – this is your golden opportunity!) and use the words of others to back up your case. We found a couple of great articles spelling out why it’s important to increase your marketing efforts during challenging times to get you started:

 
 
 
Get an objective opinion…
And when all else fails come over to Something Big, we’ll put the kettle on and get the biscuits out while you tell us all about your challenges and give you an objective opinion about where and how to save budget and focus on the areas that deliver the best chance of return on investment.
 

Leave a Reply