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 on 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 the 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.
About Fred Yee
Fred Yee is the founder and CEO of ActiveConversion, a company that makes online marketing work for industrial companies. Fred was voted as one of the 40 Most Inspiring Leaders in Sales Lead Management in 2017, and his work with ActiveConversion has helped hundreds of businesses succeed online. ActiveConversion is Fred’s third successful company, and he continues to explore the possibilities of technology in industrial sales and marketing.
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