If all the news of the credit crunch is getting you down and boring you to tears, why not buck the trend and show off your spending skills.
And I don’t mean spending wildly out of your depth! I mean controlled, well thought out spend – where the pennies go up in value once you’ve spent them rather than going to ‘newspaper ad’ heaven.
Science of the rocket variety, it is not!
Spending approximately £1,500 on a quarter page ad that will only appear once in a small area of the country, is not dynamically generated and is clouded by other adverts…hmm – [refer back to rocket science comment here!], may not be the best investment in the current climate…
Spending online however, opens up a world of opportunities for digital marketers including the ability to quantify actual results from campaigns, giving you full accountability and justifying that ‘crazy spend suggestion’ to your boss, all the more easy.
We need to reference the ‘crunch’ here but it will be with positive connotations. Money is tight, let’s face it we’re all scrimping and saving where we can. But we do still need to spend.
Particularly in marketing, because if you don’t keep reminding people, then they forget about you - not good! This also gives me the perfect opportunity to reference one of our previous articles – Cut Spend, Damage the Brand.
Not only more cost effective, marketing online allows for highly effective targeting and tracking – making it far easier to quantify your return on investment. You can receive up-to-the-moment reports detailing exactly when someone visited your ‘spend’ – this could be a full website track from page to page or a simple advert on another site.
So if you’re stuck with the million-dollar question – do I put my money offline or online then bank that thought online and save the quandry.
Don’t find your advert lining next week’s fish and chips portion. Come join us all online, there’s plenty of room!
Katherine
Account Manager
Showing posts with label recession. Show all posts
Showing posts with label recession. Show all posts
Thursday, 26 March 2009
Wednesday, 27 August 2008
Use Digital to Beat the Recession
Shhh! Don’t mention the ‘R’ word! But with all of the talk of economic doom and gloom, the impending recession and our first quarter of 0% growth, what is the best way to ensure your business survives?
We only have our previous experience to go by when it comes to predicting what will happen during a recession; but there is one major element of our economy that didn’t play a part in our lives in the late eighties…. digital.
The speed of the transfer of information has increased dramatically in comparison to our non-digital years, some report contributing to the speed of our economic decline. This speed of information transfer is also predicted to cut the length of time we remain in a recession.
But how can digital be used to help your business in harder times?
For starters, anyone that is able to continue spending on promoting their business whilst their competitors cut spend is set to gain two-fold – see our article ‘Cut Spend, Damage the Brand’ for more on this topic.
So how else can digital create competitive advantage during a recession?
- Quicker reaction times
React quickly with a relevant proposition. By continually gleaning valuable customer insight from digital channels and quickly reacting to changes in consumer behaviour and the economic climate by using the flexible nature of digital, you can tailor a highly relevant offering, maximising your success.
- Stay current
Regardless of economic climate, it is important to remain up to date with current consumer trends. The increasing popularity of online shopping, price comparison and social media is unlikely to be affected by the economic climate. If anything, the financial squeeze will drive more consumers online in their quest for the most competitive prices. By staying current, you’ll ensure you stay at the top of your game when others in your market may be cutting back to try and protect their business. You’ll come out of the other side streets ahead of your competition!
- Measurability
With increasing demand on justification for your budget spend, digital is set to see an increase in spend transferred from other more traditional but less measurable marketing techniques. Digital offers full measurability and ROI across a huge variety of channels from PPC through to email marketing and banner advertising. This accountability, complimented by its flexibility and ability to react quickly to market changes, means that the already fast growth of digital marketing techniques are set to see continuing strong growth in the coming months. Don’t forget though the importance of the integration of digital with offline marketing techniques to ensure a balanced and effective communication with your audience.
So there you have it. Just some of the reasons why digital is going to prove key in ensuring your business’ success and longevity despite the approaching recession. If you’re feeling really positive, you could even approach this recession as an opportunity rather than a threat and see it not simply a case of ‘the rich get richer’ but more a case of ‘the clever get richer’!
If you want to talk to us about how we can use digital to secure your business’ online success, then give us a call on 01252 70 11 11.
Jocelyn Kirby
We only have our previous experience to go by when it comes to predicting what will happen during a recession; but there is one major element of our economy that didn’t play a part in our lives in the late eighties…. digital.
The speed of the transfer of information has increased dramatically in comparison to our non-digital years, some report contributing to the speed of our economic decline. This speed of information transfer is also predicted to cut the length of time we remain in a recession.
But how can digital be used to help your business in harder times?
For starters, anyone that is able to continue spending on promoting their business whilst their competitors cut spend is set to gain two-fold – see our article ‘Cut Spend, Damage the Brand’ for more on this topic.
So how else can digital create competitive advantage during a recession?
- Quicker reaction times
React quickly with a relevant proposition. By continually gleaning valuable customer insight from digital channels and quickly reacting to changes in consumer behaviour and the economic climate by using the flexible nature of digital, you can tailor a highly relevant offering, maximising your success.
- Stay current
Regardless of economic climate, it is important to remain up to date with current consumer trends. The increasing popularity of online shopping, price comparison and social media is unlikely to be affected by the economic climate. If anything, the financial squeeze will drive more consumers online in their quest for the most competitive prices. By staying current, you’ll ensure you stay at the top of your game when others in your market may be cutting back to try and protect their business. You’ll come out of the other side streets ahead of your competition!
- Measurability
With increasing demand on justification for your budget spend, digital is set to see an increase in spend transferred from other more traditional but less measurable marketing techniques. Digital offers full measurability and ROI across a huge variety of channels from PPC through to email marketing and banner advertising. This accountability, complimented by its flexibility and ability to react quickly to market changes, means that the already fast growth of digital marketing techniques are set to see continuing strong growth in the coming months. Don’t forget though the importance of the integration of digital with offline marketing techniques to ensure a balanced and effective communication with your audience.
So there you have it. Just some of the reasons why digital is going to prove key in ensuring your business’ success and longevity despite the approaching recession. If you’re feeling really positive, you could even approach this recession as an opportunity rather than a threat and see it not simply a case of ‘the rich get richer’ but more a case of ‘the clever get richer’!
If you want to talk to us about how we can use digital to secure your business’ online success, then give us a call on 01252 70 11 11.
Jocelyn Kirby
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