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Top 4 Budget-Cutting-Edge Advertising Tips

By: Lisa Moscarelli
Principal C&M MARKETING AND COMMUNICATIONS

In today's challenging marketplace, businesses that are not selling mandatory, everyday living products or services are hard-pressed to match year to date revenues from the previous year.  Businesses from Lasik Eye Surgeons doing elective laser vision correction to car dealers are all feeling a major pinch.  These types of previously frequent advertisers have been regularly pounding their calls to action into potential consumers on their way to work, on their cell phones, online and much more.  They know they can't stop advertising altogether, but they just don't have the cash flow to sustain previous levels of advertising. Just how do businesses keep advertising effectively when consumer confidence is at a 30-year low?

Advertising tips for a recession:

1.  Be sure your tracking information is sound.  Cut back on those media outlets that are not producing at least a 2:1 return on your advertising investment.
2. Your business is down and so are revenues for most of the major radio, TV, print, outdoor and online media outlets.  Make them come to the table with lower pricing for '09.  They are scrambling to stave off 30-40% revenue declines themselves and should bend over backwards for clients who pay their bills and advertise on a consistent basis.
3. Whatever you have the resources to do, do it consistently.  Perhaps you can cut back the number of weeks per month or number of days per week your campaign normally runs.
4. If you're handling your media in-house, now would be a good time to consult a reputable outside agency to look over your shoulder and see if you're missing any angles.  In our firm, we'll often do this free of charge as an introduction to a potential client.  We always find ways to make the relationship beneficial for both the client and us.  In addition, an in-house advertising staff member may be more expensive than contracting with an agency and paying them only on what they place.

Keeping your company's name out there is crucial. So, take a good, hard look at what's not working, what you can spend and take a deep breath.  In the end, your company could emerge leaner, stronger and more competitive.