Marketing Strategies | How Far to Shift with the Economy

MarketingSherpa’s chart of the week shows how businesses are shifting marketing strategies. It’s not surprising that advertising is way down. Telemarketing is almost even on the reducing/adding sides. Look for more emails if you’re on a house list and additional ways to connect via social network marketing. Take some time to think about how you’ll remix. There’s no line for public relations in the chart, but you might assume online PR and blogging fit into the Web2.0 category.

marketing-tactics-marketingsherpa

Before you make any drastic shifts in your marketing plans, though, be careful.

If what you’re doing now works for you and your markets stay put or shift slightly. Canceling every ad may save you money, but will work against you when your competitors keep their ads going. While yellow pages ads can be costly, display ads on blogs or in email newsletters can be surprisingly cheap. So, keep advertising and adjust your frequency and reach to match your budget.

Jumping into social network marketing is trendy – and tough.

Unless you’re willing to study and participate by devoting several hours a week to connecting on your computer, you’ll need to be strategic with incremental, yet powerful steps. 

Consider outsourcing your marketing budgeting, planning, strategizing – and implementation.

You may save money, but if you can’t get the results a marketing communications and public relations professional can, then you’re losing not only money, but also precious time.

Your turn

How will your marketing budget change in the next six months?

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