Savings should be … productive. Is it possible to save time and money on marketing without losing it as a result? 10 ways to painlessly cut the budget for marketing costs.
When the company, it would seem, is no longer able to tighten the belt tighter, the next year is even more severe economically. To overcome the crisis, many resort to reducing the marketing budget, which is only partly correct. Savings can be economical, and perhaps reasonable. The second option is more preferable, since it allows you to switch to low-budget marketing activities, instead of completely abandoning them.
1. Use affiliate programs with payment for the result
Instead of plunging into the unfamiliar sector of the market with a head, it is better to establish partner channels with payment for the result. A system of incentive wage, in which the amount of wages depends on the productivity or quality of work, will save the budget from instant collapse after the first contact with the pitfalls of the market. Partner missions, in turn, will allow you to play confidently on someone else’s territory.
2. Double performance analysis
Along with collecting average statistical data, use individual analytics as a way of differentiating several marketing channels. With closer look it may well turn out that even with a general positive course of marketing actions, some channels have a weak, if not zero or even negative, level of involvement and conversions.
Double performance analysis will identify the weak links in your enterprise. In addition, a personal approach will clarify the relationship between different marketing channels, when the same activity is able to show the diametrically opposite result depending on the choice of neighboring channels.
3. Geotargeting if necessary
Advertisement advertising is different. One and the same ad can have a greater effect for less money. Focusing on international and national sites you buy air. It is better to concentrate on smaller regional advertising, but to get in place of a real potential customer.
4. Flexibility in time and place
Time of a meeting at times to change not only it is possible, but also it is necessary. When planning, for example, the event at the hotel, you do not need to ask the manager if there are any free windows in the chart. Adjusting to the needs of the landlord, you can save on the event without losing quality. Of course, this option works when the time of the event is not important for your audience. The same principle of “entering someone else’s position” can be adhered to when choosing the future venue of the event.
5. Save on keywords
It’s silly to say goodbye to SEO, especially when some search engine optimization activities have already been done, cutting off part of the budget. As a compensation, it is better to switch to cheaper searches with lower conversion rates.
6. Freelance to the rescue
Some tasks are beyond our ability, others in our competence only indirectly, requiring colossal spiritual and physical stress, the subsequent editing of a specialist, or, in general, alteration from a clean slate. In pursuit of savings, you can break many firewood, so it’s better to make a list of things that you can not or prefer not to do at once.
Today, freelance websites allow you to hire temporary, informal cadres on terms that are beneficial to the employer. Many high-end specialists agree to one-off work, so do not hesitate to set your own salary.
7. Automate the process
In marketing, many operations have to be repeated every day, going through the same algorithms of action: click the mouse here, then here and so a hundred times in a row. Save time by installing software to automate frequency actions.
For example, you actively promote the product in social networks. Third-party programs for a symbolic fee allow you to archive and plan future publications for days and months ahead. Do you specialize in marketing? In the network, you can find hundreds of templates for mailings, and for answers you can configure the chain of answering machines. The principle is clear.
8. Review subscription costs
Soft and Internet services, newspapers and online publications, membership in organizations and services of outside specialists all this requires investments, and often in a subscription format, rather than a single investment. Reconsider your monthly expenses by eliminating pleasant trivia that do little to promote business growth or increase the involvement of staff.
Picture Credit: geralt