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10 Ways to Stretch Your Marketing Budget

by Ardi Kolah  |  
August 9, 2013

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.

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Ardi Kolah is author of High Impact Marketing That Gets Results, published by Kogan Page.

Twitter: @guruinabottle

LinkedIn: Ardi Kolah

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  • by Gracious Store Sat Aug 10, 2013 via web

    The greatest enmey of success is inertia and complacency, refusal to makes change when necessary and being satisfied with the status quo. If any marketer overcomes these demons within his/herself, he/she will be destined to accomplish great things in his/her business

  • by Ardi Kolah Sun Aug 11, 2013 via web

    Thanks for sharing - I totally agree and yet why as a community of creative thinkers we are so risk averse? Does it make sense to you?

  • by Tanya @IgniteUCommerce Wed Aug 14, 2013 via web

    Speaking as a merchant service agent, I think another great way for businesses to be frugal and find more marketing dollars is to trust a known, ethical, direct merchant service processing agent to cut overhead costs on ancillary business services, such as payment processing, to come up with funds from other places within their operational budget. If more marketing consultants seriously considered this, they could help their prospects sign on, create a value add on to their client they won't forget (more loyalty and trust is gained), and earn a monthly residual on all switched services. Research is the key though, to offering quality partners who will enhance their reputation through their quality value added services.

  • by Ardi Kolah Mon Aug 19, 2013 via web

    Hi Tanya - outsourcing both strategic and tactical functions as you describe can reduce costs and makes sense provided it's right for the company or organisation to do so.

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