Below are a few basic points on how to do this?
Posted: Wed Feb 19, 2025 10:31 am
What I have observed around me in the market in recent years is that marketing has lost its original meaning in the perception of many top managers, namely being the main engine of growth and sales. Instead, it is often perceived as something "that is simply done", for which we do not know exactly whether it is effective, but we have the budget for it, so why not, but it is an additional expense. And so naturally, in a moment of crisis, investments in marketing are at risk of being cut among the first.
But is this the right solution? I dare say it is not. I believe that the right way is different:
Take advantage of the situation, return marketing and advertising to their original mission, minimize current losses with their help, and find a way to grow again as quickly as possible.
Eliminate activities that do not have a clear business benefit.
Identify activities in the current communication mix that have a clear business impact and generate positive south africa phone number data ROI (return on investment). Strengthen these on the PNO principle (% share of advertising costs compared to achieved turnover), until the breakeven point = until advertising costs generate a positive margin.
If you can't do this because you're not measuring your activities and their impact, you need to start measuring performance immediately. This, of course, primarily involves using online marketing tools that can be measured very well.
Consider carefully activities that do not have a clear direct business outcome. I am not saying that it is a good idea to cut all these activities thoughtlessly, but more than ever, “measure twice, cut once” applies. It is necessary to consider whether the investment really makes long-term strategic sense. If not, we cut. You will either save the money or use it to strengthen activities (see point 2) or for further business development.
After you have audited your activities and focused on the effective ones, it is time to develop further. Every crisis hides a number of opportunities. These need to be found and used.
If you are working with an agency that is capable and experienced enough to be your partner in this process, involve them. And if you don't have such an agency, find one. You will get an outside perspective and, perhaps, ideas that you may miss due to natural operational blindness, for example.
After you identify new opportunities and select the ones you want to focus on, you:
implement from the simpler to the more complex with a direct impact on the business
In the first phase, do a smaller pilot for each activity. The market will tell you whether the idea is worth developing.
But is this the right solution? I dare say it is not. I believe that the right way is different:
Take advantage of the situation, return marketing and advertising to their original mission, minimize current losses with their help, and find a way to grow again as quickly as possible.
Eliminate activities that do not have a clear business benefit.
Identify activities in the current communication mix that have a clear business impact and generate positive south africa phone number data ROI (return on investment). Strengthen these on the PNO principle (% share of advertising costs compared to achieved turnover), until the breakeven point = until advertising costs generate a positive margin.
If you can't do this because you're not measuring your activities and their impact, you need to start measuring performance immediately. This, of course, primarily involves using online marketing tools that can be measured very well.
Consider carefully activities that do not have a clear direct business outcome. I am not saying that it is a good idea to cut all these activities thoughtlessly, but more than ever, “measure twice, cut once” applies. It is necessary to consider whether the investment really makes long-term strategic sense. If not, we cut. You will either save the money or use it to strengthen activities (see point 2) or for further business development.
After you have audited your activities and focused on the effective ones, it is time to develop further. Every crisis hides a number of opportunities. These need to be found and used.
If you are working with an agency that is capable and experienced enough to be your partner in this process, involve them. And if you don't have such an agency, find one. You will get an outside perspective and, perhaps, ideas that you may miss due to natural operational blindness, for example.
After you identify new opportunities and select the ones you want to focus on, you:
implement from the simpler to the more complex with a direct impact on the business
In the first phase, do a smaller pilot for each activity. The market will tell you whether the idea is worth developing.