It is no secret; we are in the midst of a challenging economy. We have to make sacrifices in our personal and business lives. Whether that means eating in more or redistributing our budgets, we are all making changes. As businesses try and find ways to scale back costs and save money, some may be tempted to back off of their marketing and advertising campaigns. I say, not so fast!
This as a unique opportunity for your company to take a step back and evaluate the way you are spending your money. Here are some questions you should be asking to help you decide whether you are spending your money wisely.
- Is your marketing strategy relevant for the current climate? Reflect on your strategy and decide if it’s appropriate for the current climate. Sometimes you need to alter your message to fit what the current consumer needs to hear. Since their wants and needs are changing to fit the economy, your message should evolve with them.
- Do you have a clear vision of what you would like to accomplish? Sometimes it is as simple as discovering whether or not you have a clear vision of what you are trying to convey to the consumer. This is a good chance to step back and add clarity to what you are trying to accomplish with your communication plan. Without a clear vision, it is impossible to set and meet your goal
- Are you making good use of emerging technologies? Technology is constantly evolving. Your marketing efforts should do the same. As technology advances, it’s important to utilize advancing technology efficiently. There are several different types of social media emerging as major tools to communicate with a broad range of consumers. Social networking sites such as Facebook and Myspace have made building personal relationships with consumers easier than ever.
I believe that by asking these questions and reflecting back on what you have been trying to accomplish and how, you will be able to communicate more efficiently. Pulling away from marketing must only be a last resort. Even if it feels like a quick fix; it will only hurt your company’s long-term success.