Smart Marketing Moves for Lean Budgets: 4 Cost-Effective Marketing Activities That Drive Results
By
Megan Thomas
1 Minute Read
You're leading your team to reach your company's annual business goals, but it's been tough going this year. What smart marketing moves can you make now to help your firm to hit its goals?
Driven by economic uncertainty and how emerging technology like AI is shaking up how companies get things done, smart leaders are re-evaluating how they're approaching marketing strategy and investment, whether they are looking to trim a robust budget or simply to allocate an already slim spend. And, marketing activities that worked in the past, just might not be driving the results that they used to.
Here's where I recommend that you start:
⚡Focus on thought leadership. On what topic is your firm or brand uniquely positioned to lead the conversation? Develop a simple plan to create the right messages and assets, and then publicly share your thinking on the topic.
🆓 Rely on earned and owned media. Media relations and sticky social media content can both go a long way, when done in a relevant and engaging way. Integrating these efforts together typically amplifies results.
🛑 Stop doing things that don't deliver results. Sometimes, long-standing line items need to go, especially when their ROI is low or unclear. Always sponsor a local sports franchise? Always attend an industry show with a big team and an expensive booth, but rarely close a sale? Focusing resources on the strategies and tactics that really deliver is essential.
⌨️ Better leverage your data. Take a look at your typical customer's journey, then map it out. What impacts why a lead advances? Which actions does a lead take on your website? On your social media? At events? Retooling your marketing messages and approach to synch up with what's already working often bears low-hanging fruit in a tight spending environment.
🆓 Rely on earned and owned media. Media relations and sticky social media content can both go a long way, when done in a relevant and engaging way. Integrating these efforts together typically amplifies results.
🛑 Stop doing things that don't deliver results. Sometimes, long-standing line items need to go, especially when their ROI is low or unclear. Always sponsor a local sports franchise? Always attend an industry show with a big team and an expensive booth, but rarely close a sale? Focusing resources on the strategies and tactics that really deliver is essential.
⌨️ Better leverage your data. Take a look at your typical customer's journey, then map it out. What impacts why a lead advances? Which actions does a lead take on your website? On your social media? At events? Retooling your marketing messages and approach to synch up with what's already working often bears low-hanging fruit in a tight spending environment.
I recommend that you challenge your assumptions about marketing, about what works and what doesn't, and consider talking with a marketing strategist who can help you to navigate the changing economic environment.
