Slashed Marketing Budget?
Should you find yourself with a smaller marketing budget and need to prioritize your efforts, start here:
- Own your back yard - make sure that your marketing is heaviest close to home. Consumers want to deal with brands they know the best during a down economy.- Focus on your most profitable and regular customers. Someone is trying harder than ever to steal them.
- Get aggressive with PR. Earned media is more trusted than paid media and can be a heck of a lot cheaper to obtain.
- Make every opportunity work for you, including your sponsorships. If a sponsorship doesn't directly support your marketing strategy, revise what you're doing or drop it altogether.
- Eat from the other dog's bowl. You have competition that has drastically cut back on their marketing. Make them pay.
And remember, whatever marketing programs you do decide to pursue, put the necessary resources behind them so that they can succeed. In any economy, it's a bad idea to spread your efforts too thin - you'll be everywhere and nowhere at the