How Spending More on Marketing Could Actually SAVE You Money
Today’s tough economic environment has led many business leaders to look for ways to increase their output while decreasing overall expenses.
Often, this leads them right to the marketing department’s doorstep.
Now, there are two outcomes to this scenario…
- They come to the marketing department and see an area of the business that could be trimmed down with – in their mind – no major consequences to the business, leading to mass layoffs and low company morale.
OR
- They come to the marketing department and decide to double down on their campaign strategies to help increase the business’s reach and solidify its image in the public’s mind.
I’m sure you’re well aware – since I work in marketing– which option I believe to be the strongest of the two noted above, but I’d like to explain HOW I came to that conclusion and why I believe you should too.
Let’s look at the options above and play out the days, weeks and months that might follow.
OPTION #1
In option one, the executive has hacked away at their marketing department, leaving just a handful of their team in place, lowering company morale and, potentially, pushing valuable employees out the door who now have a lack of job security.
Yes, fewer employees will result in lower expenses for the company (for now), but is the non-monetary cost of taking such action really worth the financial gain?
I don’t think so…
In my mind, choosing option one is like putting a band aid on the wound of a gunshot victim. Yes, it might help ease the suffering for the moment, but, in the long run, if you don’t do anything else, more serious problems are bound to arise in the near future.
Ultimately, cutting back on your digital marketing efforts during tough economic times would be completely counterintuitive.
If people aren’t spending on non-essentials right now, you need to work to make sure your company is in their mind so that, when the economy rebounds, yours will be the first brand they think of.
Option two, on the other hand, is where things get interesting…
OPTION #2
Anyone who attacks a problem like the one above by choosing option two has, not only taken steps to get their company in front of more potential customers, but has also just shown their staff how much they value and trust them.
Going this route would also be the best way to avoid paying twice as much for the same results when the economy rebounds and you need to reestablish your team and start your projects all over again.
Folks, I get it. Doubling down on your marketing ambitions when confronted with a situation like this can be a scary thing. Spending MORE when you’re looking to spend less will seem counterproductive. But conservative thinking is not always what’s needed in times such as these.
After all, it wasn’t your conservative nature that drove you to start your business, was it?
No!
It was your ambitious drive that brought you where you are today.
… And it’s that same drive and creative thinking that will lead you down the path of success in the future.
The Wrap Up
Any company that hopes to have a chance at making it in today’s world needs a solid marketing campaign to back them up.
Making cuts to a plan that is already in place is a giant leap backwards for your company when you should be working to take steps forwards.
If you’re looking for alternative ways to cut business expenses, AI Media Group CEO and founder Sergio Alvarez, when speaking with Entrepreneur.com, recommends you consider narrowing your target strategy and confirm that you are using your budget to the best effect possible.
… And if you haven’t yet implemented a marketing strategy in your business yet, NOW IS THE TIME!
Yes, the economy is a bit rocky now, but, with a potential recession on the horizon, it very well could be today’s investments that save you during tomorrow’s storm.
P.S. If you’d like to take steps to make sure you’re company is prepared for the days ahead, give Rain Digital a call.
Our staff’s combined years of experience could be the thing that helps save you during those uncertain times.
… And, if you’re interested in getting your marketing goals started, but are concerned about the extra expenses, we’re proud to say Rain Digital offers some of the best digital marketing rates in Central Indiana. Giving you top of the line service for bargain prices. (In today’s tough economy, who can say no to that?)
