
In the current economic climate the marketing budget is often one of the first to be cut or trimmed back.
Marketeers will often shout "NO, you should be investing in marketing in difficult times." True, but get real.
There is generally only a limited amount of money to go around and where else is there a big pot of money that if cut won't have an immediate effect on sales?
If that is the case, and your budgets do get cut then you need to be as effective as possible with the marketing communications activities that you do undertake. The question is, how do you know what is and what isn't effective?
One way is to benchmark yourself against other companies or against what is considered to be best practise. A simple benchmarking process is to perform a gap analysis. If you can list all the elements of a marketing communications programme and then define what would be considered to be best practise in each of those areas then it is possible to audit yourself to see how you perform.
Once the audit has been carried out you can put plans in place to become more effective with the limited budget that you have. Easy eh?

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