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Help! My marketing budget got cut.

Help! My marketing budget got cut

06 Oct 2016
How to make the most of what you’ve got

What do you do when your marketing budget gets slashed but the business goals you’re charged with attaining remain as lofty as ever? Scream, panic and run for the hills? Tempting. But not very effective. It’s time to get creative.

Our approach is to create an “Instead of” chart that outlines all of the expensive tactics you’ve used in the past that you can no longer afford. Then, generate alternatives that could replace them at a much lower cost. For example:

Instead of: Use:
TV ads
  • Media partnership featuring your professionals and customers speaking on your area of expertise
  • Expanded presence on YouTube, supported by ads

Print ads

  • Content marketing like free e-guides supported by social media ads

Blog or landing page

  • Dedicated Facebook group page focused on topics of interest to which your target audience subscribes
  • Reach out to likeminded blogs with an offer of guest posts and support with social media ads

Digital ads

  • Social media ads targeting specific audiences and driving to calls-to-action of event signups, e-guide downloads and group page content

 

Each of these new tactics don’t require large outlays for media buys, like traditional broadcast, print and digital campaigns do. Instead, these take advantage of assets you likely already have, such as presentations and videos, and repurpose them to efficiently reach targets in new ways.

So don’t sound the alarms just yet. Because as Maya Angelou said, “You can’t use up creativity. The more you use, the more you have.” Unlike your budget.


 

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Tags: financial services marketing, healthcare marketing, nonprofit marketing, tech marketing, Advertising