5ives: Ways to Stretch Your Marketing Dollars

Buy in bulk. When it comes to purchasing media space and time, discounts are given if you promise to run on a set schedule or run a certain number of ads. These price reductions are given by radio and television stations a lot for the peace of mind of not having any dead space in the program schedule.
Have a budget and stick to it. Impulse buys are as common in marketing as they are in the check-out line. If the first day of a sale is slow, there is no need to panic and purchase more ads. Likewise, if a competitor comes out with a better deal, don’t wage a price war that will have to be supplemented with more advertising when the return on each sale will already be lower. A yearly schedule with a budget will help keep all your other numbers in line and on track.
Invest in your employees. All the advertising and PR in the world can’t compete with customer service. Its up to your employees to facilitate the best customer experience possible. Customer service and top-notch products lead to the best and cheapest advertising of all, word of mouth.
Experiment with Public Relations. Investing in volunteerism or programs that benefit the greater good make great news stories. Being altruistic boosts the esprit de core of your employees and the community. Mood increases purchasing habits, and who doesn’t want to feel better?
Don’t Panic. For up to a decade, the ride will be bumpy. The brands that will survive are those that have taken calculated risks, improved the service or product and kept aggressive goals.