March 13, 2011

Marketing Budgets Follow Up – Appreciation Marketing Can Help When Money is Tight


Last week, I advocated increasing, or at least not decreasing, your marketing budget when financial problems are prevalent.  Several of my networking partners called and emailed me regarding this opinion, suggesting some further clarification to my comments.

When I said that we should expand our marketing budgets, I meant that we should expand our marketing efforts.  I also said that we should work smarter not harder.  Place those two statements side by side, and we see that we should look at our marketing plan and see if we can improve on the efficiency of what we are doing.

Eliminate what you were doing that resulted in poor or no business.  If you keep making the same effort, with the same tools, what makes you believe that you will not obtain the same poor results?  Some people call that insanity.  Instead, how do we make the parts that worked well work better?

Whatever you did that brought results may be able to be done more efficiently, with less expense, and easier than before.  Just because we got good results, doesn’t mean that we cannot get better results, or the same results, with less expense or even less effort if we work smarter.

New technology may allow us to complete the same task with which we struggled in the past to be done now with less effort and sometimes less expense.  What took multiple people to accomplish might now be done by one person with better technology.  What was unreasonable to spend on a marketing effort may now be within the reach of more of us.

Perhaps you had a staff of personnel to take the steps to market your business in the past.  Now that you may not be able to afford that staff anymore, you need to see what you can do by yourself, or with a reduced staff.  Maybe you still have a staff, but they need to be performing other tasks.  How can you, and they, work more efficiently and accomplish their other tasks as well as your marketing efforts?

Remember what we said last week about businesses that eliminate their marketing budgets or efforts.  They literally vanish from the view of their customers and prospects.  Their customers move to other businesses that are visible to the public.  If your business loses its public presence, it will lose the public’s support.

On the other hand, businesses that maintain their public presence through increased or better focused marketing maintain their customers and attract prospects.  The public knows that they are still in business, still viable in the marketplace.  Those are the businesses that remain in business and may even grow their market share.

Work smarter not harder.  This should be applied to everything that a business does, including marketing.  Look at everything that you do and examine how it can be accomplished differently.  The two worst beliefs are that anything that has never been tried before cannot be attempted or that you must always do something a certain way.  Think outside the box, and use your imagination.

Like my networking partners who contacted me after last week’s post, I will be glad to hear your thoughts also.  Give me a call at 360-314-8691, or email me at Jim@SOC4Now.com.  You can also leave your comments here for others to read.  That is how we benefit from networking partnerships.

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