Why marketing doesn't have to be cut in a recession
When other businesses are cutting back on their marketing spend during tougher times, successful ones are prioritising it and still surviving, despite the ongoing cost. But how do they do it? Particularly as 2011 has been a troublesome 12 months for all of us?
Well, when some companies only see doom and gloom, others see opportunities. Why? Because when times get tough, successful businesses always find a way to streamline, innovate and cut costs without reducing their marketing output.
And that's exactly what's happened here. Savvy businesses have certainly cut back but they've found clever, new ways to stay profitable without slashing marketing budgets. How have they done it? They've discovered and embraced the digital revolution, and have changed their marketing strategies to a more digital focus.
That's because many have realised that digital marketing is not only cost-effective, it's the most effective way to reach customers these days. Think about it - where is everyone today? They're online - chatting, shopping and doing just about everything through their home PCs, laptops, smartphones and tablets.
So if that's the case, doesn't it mean that you can talk directly to your customers? That you can cut out the middleman, i.e. the advertiser or the journalist, and go straight to your intended audience? Doesn't that mean less marketing spend in-house or through an agency? You bet it does!
2011 has been the year when the lightbulb has gone off for many firms. They've realised that social media isn't a fad. They've started to understand SEO and why fresh content on their website is an essential ingredient. They've created a Twitter account and started to talk directly to their customers.
We're seeing everyone make the most of websites, blogs, social media and all manner of digital tools and widgets. 2011 has been an amazing year of innovative marketing and communications. It's making many traditional PR and marketing firms shake in their boots and understandably so.
But we're not quite there yet. A lot of mistakes are still being made as businesses try to apply the same, old traditional marketing techniques to the new digital landscape. It's 'early days', as they say. Even though social media has been around for quite some time, many companies are still struggling to understand it or indeed how to use it.
That's why 2012 excites me even more. I'm hugely passionate about digital PR and marketing, and really hope that the next 12 months will see more and more firms wake up to the endless and cost-effective possibilities of the digital revolution.
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