To invest or not to invest in marketing?
Marketing does not need to be expensive to be effective.
During more turbulent and uncertain economic times, it is not uncommon for businesses, big and small, to slam on the brakes, slash their marketing expenditure in half and wait for break in the storm.
Financially, this may make perfect business sense and could help to keep down costs - in the short term anyway! However, from an external perspective, i.e. that of your customers and competitors, this seemingly ‘safe’ strategy could have devastating consequences for your company’s profile and competitive positioning.
A quick sweep of the web and market environment will highlight the companies that are continuing to invest in their marketing, brand and profile and while some companies retreat, so do their activities and overall presence - making way for new, confident and strategic businesses to steal the lime light and unfortunately, the customer base too.
It is a common misconception that marketing is an expensive and time consuming discipline. Whilst you can, if you want too, spend thousands of pounds on marketing campaigns, fancy websites, TV advertising and big events, it is possible to deliver effective, clever and successful marketing initiatives for a fraction of the cost.
Here are just a few of my suggestions that may help you to keep down costs but still compete with the ‘big boys';
For help driving your marketing activities, please give Cambridge Marketing Consultancy a call on 07834 896 285.