With more companies likely to tighten their financial budgets going into 2012, ask yourself if your business has the financial stomach to spend more on marketing, about the same as this year, or even possibly reduce what you spent these last 12 months.
That thought especially holds true with online marketing, given that your company has a real-time impact with both current and potential customers in a matter of minutes, something that cannot be achieved through more traditional ways like newspapers, radio ads, flyers, newsletters etc.
According to a recent The CMO Survey, even with an up-and-down economy forecast to continue into 2012, chief marketing officers are looking to add to spending on all aspects of marketing in 2012.
This will especially be true when it comes to funds for B2B marketing with social media and business services marketing (see more on importance of social media in marketing below). The survey also goes on to note that companies will likely grow spending for marketing hires, likely around 7.2 percent on average in the next year.
That being said, those companies looking to reduce their marketing expenditures in 2012 have ways to cut back and still get some bang for their dollar, however they need to be creative to say the least.
The last thing companies will want to do is turn down their business services marketing efforts or even turn off their marketing engines to the point that the competition takes advantage of the downswing.
In the event your company is thinking about trimming the marketing budget for the New Year, keep several factors in mind:
Take a look at your marketing techniques, go into 2012 with a plan in place, and market your company to success.
Dave Thomas, who covers among other subjects’ document management and HR software, writes extensively for Business.com, an online resource destination for businesses of all sizes to research, find, and compare the products and services they need to run their businesses.
About Fred Yee
Fred Yee is the founder and CEO of ActiveConversion, a company specializing in industrial online marketing, marketing automation, and demand generation. His work with ActiveConversion has helped hundreds of businesses succeed online and expand internationally. Fred was voted by the SLMA as one of the Top 50 Most Influential in Sales Lead Management for two consecutive years, and continues to gain recognition for his work in online marketing.