Reduce Your Marketing Costs

In tough times, the mentality for most businesses is that unnecessary spending must be cut. To the demise of many small businesses, it is the marketing budget that is cut and marketing stops.

Marketing is a necessary investment for business because it is designed to keep work coming in. The businesses that continue to market through a recession or depression are those that make it out alive.

What is a business to do?
Answer:
- Reduce marketing costs
- Target customers

Because of financial constraints in these times, spending must be cut; including marketing spending. But that does not mean your marketing should stop. Instead it means cut the marketing wastage and market to where customers are looking for you.

The availability and reliance of businesses & consumers on the Internet makes a marketing budget stretch much further. Marketing on the Internet is incredibly cheap if you know how it works. You will have complete control of your spending and can monitor the returns very accurately.

With a targeted and well researched marketing plan that implements a mixed media marketing approach; using both the Internet and traditional marketing methods, you will reduce your marketing costs and improve the quality of your leads. This means more conversions per advertising dollar and more profits.

All of this can be achieved through marketing smarter and taking a mixed media marketing approach. Perform targeted marketing online and offline.

Those businesses that rely on advertising and promotion with traditional mass media such as newspaper ads, radio & TV commercials and placements in directories will find these times extra difficult. Advertising through these methods are increasingly expensive and are less effective than they once were. They are simply not targeted enough.

It is going to take a recession for these businesses to realise that the Internet is where it is at! It is the place where marketing is cheap, targeted and effective. What’s more is it’s in your control. – It is probably these promises that sound too good to be true that scare businesses off Internet marketing.

The 70/30 rule should be applied to advertising online and offline. Invest 70% of your marketing budget online and reduce offline spending to 30% of the budget. Your advertising will be much more targeted with minimal wastage because of the online focus and restricted offline spend which will be limited to directories and the odd radio promotion.

Reduce your marketing budget. Do not stop it altogether. Market smarter. Mixed media marketing is the solution.

Online marketing maybe the one revelation that gets your business through the tough times.