Marketing Idea #2: What is Your Marketing Budget?

Marketing Ideas Marketing Budget

Set aside money for marketing efforts each year. Don’t use it for anything else. Often, we have a tendency to pull our marketing funds from the same pool of money as our operating funds. This habit can reduce an organization’s ability to market itself when the time is right. Be especially protective of your marketing budget; this is the investment that pays the bills.

Below, I’ve reposted a brief article by the Wall Street Journal which discusses the success of companies who remain steady in their marketing efforts, even in the face of a recession. Folks, if this can’t convince you to invest in your own marketing efforts, I don’t know what will.

In support of your efforts,

Matt

marketing ideas Google Analytics divider

The Basic Argument for Advertising in a Recession

from The Wall Street Journal (publication information unknown)
View the original article

When times turn bad, they’re made worse by hesitation, halfway measures, and panicky decisions. Such as the decision to reduce or eliminate advertising. The fact is, companies that maintain or increase their advertising spending during recessions get ahead. A less crowded field allows messages to be seen more clearly, and that increased visibility results in higher sales both during and after a recession.

Recessionary Advertising Works

Studies by the American Business Press examined the relationship between advertising and sales in 143 companies during the severe 1974/75 downturn. They found that companies that did not cut advertising either year had the highest growth in sales and the net income during the two study years and the following two years. The studies also proved that companies that cut advertising during both years had the lowest sales and net-income increases during the two study years and the following two years.

And not surprisingly, companies that cut advertising during only one of the recession years had sales and net-income increases that fell in between.

Long-Term Benefits

A study by McGraw-Hill of both the 1974/75 and 1981/82 recessions confirmed the long-range advantage of keeping a strong advertising presence. It found that companies that cut advertising in 1981/82 increased sales by only 19% between 1980 and 1985, while companies that continued to advertise in 1981/82 enjoyed a 275% sales increase.

An industry-specific study published by the Harvard Business Review found that airlines that increased their advertising expenditure during 1974/75 increased sales and market share in both years, while airlines that cut advertising in both years lost sales and share both years.

The results of all three studies are consistent, clear and unequivocal: Those companies that advertise during a recession have better sales than those companies that don’t.

The way to minimize a downturn and take maximum advantage of the upturn is to maintain a strong communications link with your buying public.

Marketing Idea #4: Note Those Hot Ideas

Marketing Ideas Hot Ideas

You probably already have ideas and future plans for your company in your head. Put these ideas down in print somewhere. Include a section for collecting marketing ideas and opportunity information. You’ll be amazed at the great ideas you lose track of as you get caught up in your day-to-day efforts. Make it a point to review this file quarterly and delegate the best ideas if you can’t tackle them yourself.

Great Marketing Ideas: Be a Mom for a Moment

Marketing Example Unicef Mom

Unicef Finland wanted to raise awareness for children’s rights and raise funds with a minimum cost. They also wanted to reinforce their position as an organization dedicated specifically to children’s welfare. There are over 145 million orphaned or abandoned children all around the world.

“By supporting Unicef anyone can be a mother to them, just for a moment.”

To provoke and create discussion they started by abandoning sound-equipped (crying) baby strollers in 14 cities. Inside the stroller was a note with the message:

Thank you for caring, we hope there is more people like you.
Be a mom for a moment.
Unicef

Media and public reaction was overwhelming. They flooded all the major TV, radio and web news. Estimated media reach was over 80% of Finnish population after just two days.

Advertising Agency: Taivas, Helsinki, Finland
Art Directors: Jyri Niemi, Anna-Mia Alanko
Copywriter: Adele Enersen
Account Supervisors: Heini Häyrinen, Joanna Kokonmäki
Production company: ADDlife Finland

marketing ideas ebook divider

References

I Believe in Advertising. Unicef Finland: Mom. March 31, 2009. Retrieved from http://www.ibelieveinadv.com/2009/03/unicef-finland-mom/.

Marketing Idea #44: Showcase Local Artists

Marketing Ideas Local Artists

Display artwork for sale from local artists. In doing so, you support the local artist community, gain word-of-mouth through the artists, and bring more interest to your walls. This can be done by writing up an offer and presenting it to a local art gallery. You may want to bring focus to the display either by centering on a specific artist or by having the showing coincide with a particular (and appropriate) event.

Marketing Idea #79: Can’t You Read The Sign?

Marketing Ideas Signage

Consider the signage at your office or facility. Can a visitor find you easily? Can he find his way around your facility easily? Large buildings such as hospitals, office buildings, and malls often suffer from poor signage, creating a sense of unease and annoyance in their patrons. You know that even grocery stores can benefit from clear signage if you’ve ever had the misfortune of searching for way too long to locate a certain item on your grocery list.

Marketing Ideas Signs