As marketers, we tend to start the new year with high hopes for innovative new campaigns, but by February or March, we’re already beginning to feel defeated.
The biggest reason: Our budget and internal marketing resources are stretched thin across an increasing number of channels, including digital and social media. We’re under greater pressure to achieve the ideal mix of spending among those channels—and to prove our worth as marketers.
In fact, 58 percent of chief marketing officers said they felt increasing pressure to prove the value of marketing and business communications to their CEO, according to the 2015 CMO Survey.
Meeting those demands requires taking a hard look at every aspect of our marketing budget, time and talent to ensure we’re using them as efficiently and effectively as possible.
It’s a combination of reducing unnecessary spending we’ve taken for granted in the past and digging deeper to uncover insights that increase revenues.
Perhaps you’re thinking, “Sure, that all sounds great, but what does it look like on a day-to-day basis?”
Obviously, there’s no single formula that works for every industry and business model, but there are best practices.
As the Head of Marketing for a company that has built its business model on streamlining processes for some of the world’s most profitable organizations and a company that is in the midst of its own transformation, I can tell you what has worked for our clients and for us.
What steps has your company taken to make better use of your marketing budget and resources? Share your thoughts with us in the comments below.
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