For many companies, large and small, this is the discussion going on in in hushed tones in closed door meetings.
Stop and think...
I bring this up because a client came by yesterday and told me about another business in town that decided to shelve their advertising plans to save two jobs. She asked me my opinion.
Frankly, the company decision to slash advertising puts the entire workforce in jeopardy.
If that sounds "cold" wait...we wouldn't give anybody the "pink slip" either.
Tough economic times demand cooler heads and a lot more thought. The "easy" way out of this dilemma is the "either/or" route. The smart way is to critically review...everything. But, many times a company waits until the last minute and makes tragic errors, like cutting advertising and marketing.
What they should be doing, in our opinion, is look hard at the effectiveness of their advertising and marketing. Examples:
- Is the message relevant? It's hard to answer that question while swimming with the sharks and even more difficult if the company is doing the "same old thing" in todays market.
- Is the vehicle right? Sometimes businesses are tied to one form of marketing. "We've always advertised in the newspaper." News Flash: Newspaper advertising and circulation has changed drastically over the past five years. And we're not "picking" on newspapers every media vehicle has experienced amazing change...
- Has the consumer changed? Duh! Even if you "think" it has not...it has.
- More or less competition? What was "hot" two years ago can be a dud today.
The bottom line is the hard work in sitting down and actually spending time thinking about these and a dozen more issues. And, if the advertising budget is more of an "after thought" the more difficult it is to get it right.
What say you?
Michael P. Libbie - Insight Advertising, Marketing & Communications where we understand it's tough to think...sometimes our heads hurt too.