Limit paid search to the most high-impact keywords/phrases. On the paid media side, look for firms comfortable working with lower spend-they exist. Build up that base of reputable content and leverage it across your channels and ecosystem. Consumers and businesses still make buying decisions based on the reputation that’s advocated by credible third parties-media, podcasters, even influencers. Reallocate some paid advertising money to ‘earned media.’ĭouble down on your company’s earned media spend, using a small portion of what had been allocated to paid media. Are they perceived as essentials, justifiable indulgences, purchases that can be postponed or as unjustifiable expenditures? The answer should impact your spending allocation.ġ. Think about how consumers perceive your product/service offerings. Revisit your strategy, distribution and spending allocation in response to changes in product/service demand. Savvy marketers know there is an opportunity to gain market share when competitors make spending cuts. However, history tells us indiscriminate budget cuts are momentum busters. So, how will the bold proceed in this business environment? Economic headwinds and inflation are real and should not be ignored. And great leaders recognize not only the importance of momentum-in sports, military endeavors, business, etc.-but how much can be gained or lost when faced with adversity. Being bold during great times is often the cost of doing business, but it’s also the path to building momentum.
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