Cut your marketing budget, not your strategy- part 1

Sometimes, no matter how hard you try, you have to accept budget cuts. Below are some ideas that will save your budget without reversing all the hard work you’ve already put into your marketing plan. In this 8-part series, we'll discuss ways to cut back on your budget without demolishing your marketing plan.

Please note: not all ideas will work for all industries and programs. Be open to and aware of these suggestions, but modify them to suit your purposes.

1) Scrutinize how you are treating your lower value segments. Now is a great time to do that switch to less expensive channels that may have cropped up in strategy meetings but never seriously considered. With a smaller budget, it’s important that you create the biggest impact in sales by targeting the highest-value prospects first and more closely. If you ignore your lower-value prospects, though, you’re doing yourself a disservice. Can these audiences be receiving e-mails rather than direct mail? Can you send this audience to your web site for more information instead of a sales rep? Are you communicating too much with this group?

What can you do to cut unnecessary costs out of your budget?

Next time: Join forces with sales.