Too often businesses think of marketing as an additional expense that eats away at their budget limits. Nothing could be farther from the truth. Marketing isn’t an unnecessary evil – it’s an investment into the future of your company. It’s the portal that allows you to understand your consumer base BEFORE you begin to target them with your product.
However, we will agree that marketing budgets can skyrocket in the blink of an eye. And we all need to watch how we spend our money in these trying times. Yet, with every other aspect of the successful entrepreneurial venture, marketing is another one that requires creative thinking.
1. Begin with Community Networking There are a number of ways to extend yourself into the community you want to see yourself in. Community activities – especially cause related activities – are a great way to position yourself as a subject-matter expert (SME) and to build goodwill.
2. Maximize Existing Content Using existing content to introduce a new campaign – or to refurbish existing literature – is perfectly acceptable. In fact, it strengthens your brand identity. Go ahead and lift existing photos, illustrations and copy to drive your message home.
3. DIY! If you’re already writing your own press releases, then why stop there! Develop a list of pertinent media and handle the distribution of press releases in-house. Taking care of marketing detail at home is often a much more economical route than hiring an agency.
4. Don’t look a gift horse… You know how the saying goes. If you’re trying to scrap an old campaign that works in exchange for something more exciting or fresh, just out of sheer boredom, think again. If your existing campaign has produced desirable results for you, there’s a reason why.
If you need to update the copy with current statistics, go ahead. But if the ad is still producing effective results, then don’t pull a switch on your audience.
How have you cut corners on your marketing budget? Were you still able to get effective results? How creative was your solution? Share your thoughts here with us!