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‘Marketing During a Downturn’? Let The Numbers Do The Fighting For You…
By Joyce McKee | April 8, 2008
Research is one of my passions.
I love asking questions and receiving answers.
However, in my consulting role, I have seen companies take the exact same numbers and apply them differently, according to their unique corporate culture.
It is fascinating to watch.
So in today’s environment where we are being bombarded with bad news of the economic downturn, I am curious to watch the reactions to those numbers.
MarketingSherpa has just released a report - Marketing During a Downturn.
There are a couple of points I want to highlight for you.
It is interesting to note as they report, “not all marketers are thinking the worst”.
And this shows that there are many companies who see the glass half full and are pursuing various marketing activities.
The report notes the following:
52% of small firms are not cutting their marketing budgets - they say there will be “no change”.
“60% of marketers at larger companies and 29% of medium-size companies have already cut or expect to cut their marketing budgets.”
Now it obvious that the larger companies have a much larger overall marketing budget and some trimming can be a prudent activity. In the past I have seen a lot of marketing waste from larger companies.
The report offers a tip which I deem extremely valuable: “Let numbers do the fighting for you.”
They suggest that if you do not have a way to calculate ROI, it would be wise to create your model.
Start tracking all varieties of marketing efforts - direct mail, internet click through, seminars, events, etc.
I have spoken of this before - Exhibit Surveys has a ROI Toolkit for evaluating trade show performance.
It can be found at this URL:
http://roitoolkit.exhibitsurveys.net/Home/Welcome.aspx
I will be writing more about this important topic over the next few weeks.
It is on the minds of all of us and there is a way to exploit this situation to our advantage, so stay tuned…
Joyce McKee
Topics: Trade Show News |
April 8th, 2008 at 12:37 pm
Been reading for a while now. Just wanted to say good job.
Chris Tackett