“Why is that?” I responded, intrigued.
“When times are good, people want it. But when times are bad, people need it,” he said. “Marketing outsourcing seems like a recession-proof model—it’s the way to get marketing done in a tough economy.”
I never really thought of it that way. My goal was to build a company that could deliver what I needed as a marketing director: Strategic and seamless, media and discipline-neutral marketing.
Our clients are running either white hot or ice cold. Some have told us, “We love you, but we need to cease all marketing activity.” Others have told us they want all their projects accelerated—they want to seize the market while their competitors cut their marketing budgets.
As the economic crisis has deepened, I’ve been thinking more about the marketing outsourcing/alcohol comparison. If it rang true, we should have seen an uptick in inquiries from companies considering outsourcing instead of adding overhead. That hasn’t necessarily been the case.
Since there hasn’t been a massive move to marketing outsourcing, now I’m wondering, just how is marketing getting done?
- Is your agency/employee/freelancer mix changing?
- How has your marketing budget changed?
- What are you spending more on? Less?
- And how’s it going?
Comment below to share.
Outsourced marketing: check
Contracting consultantation with crackerjack application team: check
Marketing budget increased (and maximized): check
Increased focus on Online marketing and PR: check
Progress Report: a little too early to tell, but February saw a 26% revenue increase (due largely to tripled conversion rate after adjusting our offers to provide situation-specific services, and tinkering with our communication to that effect). That, combined with a 43% web site traffic increase and so far, so good.
The market is collapsing and we marketers are suffering so awfully because everyone is afraid to spend any money and it sucks OH MY GOD it’s the end of the world and we’re all going to die!
Is your agency/employee/freelancer mix changing? – Marketing has always been traditionally in-house. However, I find it hopeful that I’ve been hired on as an in-house online specialist/consultant.
How has your marketing budget changed? – Budget has NOT changed for ’09 since it was tabled and approved early fall of ’08
What are you spending more on? – As always, teh traditional face-to-face client relations initiatives such events, seminars and the like to promote intellectual capital and core services. Less? – Sadly, investment in emerging technologies has taken a back seat. Go fig!
And how’s it going? – This depends on what industry you are in, I think. I would agree with Lissa Boles that it’s too early to tell at this stage.
I have increased my Marketing Budget – 6 months ago, I started aggressively using direct mail, greeting cards, display advertising and promotional product mailers.
I have increased my networking event attendance as well as my social networking activities.
Not many realize that this is the best time to capture market share by increasing all your marketing and advertising efforts.
Tim Somers
Bizarre Promotions, Inc
I am focusing on relationship marketing and building share of customer rather than throwing money into shotgun marketing and trying to build customer share. When money is tight people are more likely to be motivated to spend with people or businesses that they have an existing relationship with and loyalty to.