Marketing Tactics in the Economic Downturn
Sometimes our biggest threats are our greatest opportunities. Those who embrace change can grow innovate, streamline and expand markets. As companies look to cut costs and optimize marketing spend, it pays to look at others’ plans for the new year:
Spend precious resources on what works, and eliminate or simplify what doesn’t. Here’s how:
- Understand your current costs and budget constraints.
- Gather data points:
- Website stats like unique visits per month
- Number of new contacts in your database
- Source of your last 10 deals
- Examine for trends. Does an upswing in web visits tie to an event?
- Gather and assess your current marketing assets (e.g., identity, coll-ateral, website):
- What’s outdated or off-target?
- What can be reused or repurposed?
- What’s your best sales vehicle (web ad campaign, tradeshow/event)?
- What’s used inconsistently?
- Set a marketing plan including budget, schedule, priorities and timing. Need help? The PLS marketing assessment can help you build on what’s working, and simplify and turn around what’s not.