Article by Bryan Kauffmann, Director of Marketing
eContactLive, Inc. Oct.2012.
We hear a lot about the economy these days - claims as to who is responsible, who is most likely to fix it, and where we need to make sacrifices. For those of us who are involved in running a business, I am sure we have all looked at areas where we can cut back. Often times we have cut the wrong areas and end up hindering our growth. Many companies drastically cut their marketing budgets when the economic turn happened. In 2009, the company I was working for actually cut 75% of their marketing team (I, thankfully, was not a part of that cut), and reduced their marketing efforts. Unfortunately, that was the norm at that time for many companies across the country. Without strong marketing teams and strategies, many companies could no longer sustain the growth they had been accustomed to in the previous years, and many small businesses suffered – even closed.
Growth. Did you catch that? In the same segment where I was talking economics, cutbacks, and sacrifice, I mentioned growth. It is possible to grow even in times like these. How? I’m glad you asked. While competitors have cut back on their marketing, you simply keep marketing at the same level – or get aggressive and do more. Get, and keep, your name in front of your competitor’s clients, and earn their business.
There’s an old adage that states “It takes money to make money.” While it may take a bit of a leap to invest more money into marketing, the more you invest, the greater your return can be. For example, the average ROI our clients see is in the 200-400% range. We even have clients who are seeing over 10,000% return on their marketing investment – in an economic downturn. They kept their marketing going, increased their marketing, and are now reaping the rewards of their investment.
Obviously, every business has their own plan laid out for marketing. If that plan is cutting back on marketing, losing market share, and letting the competition take their business, then that is their choice. On the other hand, if they are looking to grow, take over the competitions business, and see a positive ROI, then we are here to help.
So what are you doing? Are you growing, staying the same, or cutting back? If you are looking to increase your marketing efforts and start growing, or are looking for a partner to help with your marketing strategies, call us today and our dedicated Account Management team will be able to help you! 800-551-0657.