Stop the Bleeding and Start the First Aid

I’ve blogged here about cutting back on marketing and sales in the middle of bad times but no one is listening it seems. A prominent professional association of national advertisers is reporting a devastating statistic.
More than 90 per cent of the major companies polled are looking to cut advertising and marketing expenses (investments, I would say!). Even worse, the budgets are going to be reduced for next year from a quarter to a third. Are we going to be saying good-bye to the newspaper industry? I pray not.
The part that makes no sense to me is plans to eliminate new projects. Seems to me, the Obama way is, if the old ideas weren’t working, let’s try something new. New projects mean new ideas and those are the things that can get things going again. But that “newness” is being cutout. Isn’t that the way we always did it in the past? Would somebody please listen to me?
One other genius in the marketing industry was quoted as saying, “In the current economic environment, there’s a need to acknowledge consumers’ financial circumstances, and offers them products, services and solutions that meet their needs.” Sounds like something I said – at least I said that to my wife. “For some marketers, that will mean skewing their media mix towards promotional spending and direct marketing.
I’m beginning to think that people in the advertising business are noticing the promotional product you get the prospective customer to carry in his pocket or wear on his hat may get a lot more bang for the buck then the ad costing millions and missed by millions more.
Those of you having cut ad budgets and are still responsible to bring in existing and new business would do well to visit my site at www.InnMkting.com We offer a total resource of ideas that will help you achieve that goal – lower spending and more impressions. If you don’t feel comfortable surfing a site, email me Jay@InnMkting.com and I will be happy to start sharing some ideas with you AT NO COST.