All marketing practitioners are seeking ways to save money and get a bigger bang for their budget buck. How to do that isn't at all obvious. But, sometimes, the answer can be staring you in the face!
No. 1: Seek opportunity in adversity
Inertia, complacency, and overconfidence are your inner demons. Get rid of them. They'll cost you money. Reading the writing on the wall, on the other hand, is a great place to start to save money.
Too many marketers pay insufficient attention to the early warning signs of big shifts in demographics, technology, and regulation. As a result, they miss out on a great opportunity to proactively innovate to take advantage of those shifts.
Turn adversity on its head and get it to work in your favor. The key is to translate challenges into opportunities (glass half full...) and use constraints to spur innovation (necessity as mother of invention...).
No. 2: Do more with less
Being resourceful in a resource-scare world should be second nature. But it isn't.
You don't necessarily need a multimillion-dollar budget. In fact, some of the most successful in our industry are those able to get more from less by applying frugality to every activity they perform. They tend to work for organizations that are efficient, and by that I mean they are frugal in how they design products, how they produce them, how they deliver them, and how they perform after-sales or after-care.