All of something or a little bit of everything?

So, you’re cracking along with 2010 and a new decade, sitting down to plan the marketing & promotional assault that’ll see your brand, business or franchise climb higher.

Money’s a bit tight, confidence is still a little weak and so you need to stretch your marketing budget (because you have one, right?) as far as possible and invite consumer engagement with your thing.

In the past you run some ads, maybe some PR, product sampling (giving stuff away for free), maybe a sponsorship and tried out two-for-one or % discount offers but now you can’t really afford to do everything you did in the past (while you can’t really afford not to; the great business balancing act).

There are plenty of creative, production and media agencies who’ll willingly take your money, but who should get it?  Does what you’re doing still invite and entertain your market?  Are your customers still engaged and motivated?  What strategy and tactics will attract the most attention in the future?  What stories should I tell?

You’re faced with a dilemma; do I cut down a little on everything or stop doing something altogether?

I’d always suggest thinking twice about killing something altogether.  It might be like unhooking the link of a chain; you’ll find the machine doesn’t work at all and a good marketing strategy should make use of several channels.

Before making any decisions, look at your market and how it’s changing, what’s changing and where you can have a louder, clearer voice that matches your brand position.  Talk to your agencies and service providers about your ideas on what to do and where.  Make sure they (and you) understand what you want to achieve.  Above all, know your edge because that’s the one thing nobody else can own.  It’s hard to go wrong marketing your edge.

Do that and the decision on where and how to spend your marketing budget will start to become a whole lot clearer.

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