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February 18, 2010
Five Tricks for Stretching Marketing Dollars
In a client call today, I was reminded of the stark budget realities of our current market. That made me think about five simple ways many companies could save money and get more out of their marketing budgets. They may seem simplistic, but I can attest to their relevance in many large corporations:
- Scrub your mailing lists. I cannot overemphasize how much waste happens because of lack of segmentation, targeting, list cleansing and maintenance.
- Know your customers so you don't send them offers for things they've already bought. It's that targeting thing again and the lack of a customer/prospect distinction is the one I find most appallingly common.
- Make sure every customer touch has a clear, simple and convenient way for a customer to respond or comment back to you. If you spend money creating a communication, it does not cost any more to construct it well!
- Offer customers the chance to optimize how they receive information from you...do not make assumptions about "e" vs. "print".
- Nurture, nurture, nurture. It is cheaper to nurture legitimate prospects than constantly mining cold lists for immediate wins.
Times are tight and not likely to get easier any time soon. Fiscal prudence aided by good marketing practice can help you optimize the use of your precious marketing dollars.
Posted by jcioban at February 18, 2010 4:06 PM
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