WE ASKED:
“How is your business attempting to reduce the costs and improve efficiencies of marketing communications?”
YOU ANSWERED:
Respondents were asked to mark the tactics they have implemented. The top ten selected tactics are shown here, ranked according to their index score over the average. (See the rankings of all 30 tactics here.)
So what tactics are marketers using to reduce the costs and improve efficiencies of marketing communications?
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More ideas from you
Beyond the tactics we listed in this survey, we asked you for any ideas we didn't think of. Here's a list of your submissions:
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Shifting dollars towards marcom programs designed to increase “share of wallet” within current customer base.
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Increasing one-on-one contacts to selectively qualified prospects
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Trying new ways to market, like pull marketing (skipping our customers and going directly to their customers)
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More aggressive prospecting in target market areas based on specific needs of prospects
Highlights at the top: The Maui sales convention is on hold Fewer hands, more in-house work Ad spending contracts, but gets smarter Print migrates online Proving value
A look at the top responses show a wide variety of cost-cutting/efficiency tactics in play. These range from plucking obvious or traditional low-hanging fruit like ad spending, personnel or travel, to craftier moves such as migrating communications online and measuring ROI. Some highlights:
Some budget items that traditionally consume larger budgets are getting the axe, from trade shows (index:158) to business travel (143).
Lower down in the results, we are seeing some attempt to balance the travel cuts by using increased more web- and video-based distance collaboration.
If you're feeling stressed lately, you're not alone.
The top-cited tactic of reducing agency costs by taking more work in-house (183) may be colliding with the tendency to reduce staff (143).
Work that stays outside is often going to smaller agencies or freelancers.
Though overall ad frequency is frequently a target for cost-cutting (169), you're finding new ways to target more efficiently and selectively (143).
That's important, as wholesale frequency cuts can greatly reduce overall program efficiency and effectiveness if not handled strategically.
Wired communications are gaining favor over traditional print-based channels for their perceived cost advantage.
Email, e-newletters and PDFs (179) are providing new options minus inherent costs of printing and distribution.
Measuring returns to prove value to senior management -the mantra of our friend Don Schultz, interviewed here on Mobium.com is gaining a foothold in the business world, with an index of 138. Marketers appear to be waking up to the fact even "soft" activities as branding and public relations can show positive ROI.
Some upside at the bottom Internal marketing programs, which we believe are vital for ensuring the company delivers its brand, seem to be escaping the hatchet. There's also a less-than-average tendency to shift dollars away from brand advertising and into direct response and PR. Perhaps the notion that "branding" is ineffective compared to more hard-boiled PR and direct response tactics isn't widely shared among business marketers, despite some post-bubble pundits' advice. We take this as a good sign and a vote for more sophisticated business communication strategy. And although marketers are aggressively negotiating lower rates, they are resisting the pull to award work to the lowest-cost bidder. Another indication that despite the troubled times (or perhaps because of them), professionals recognize the difference between price and value.
We see some enouraging news in the lower range of the rankings.