As 2011 begins, many businesses in the UK are looking at ways to reduce their marketing costs.
This is risky as there is the danger of stopping the marketing altogether (which some companies have done) or effecting the marketing productivity by cutting corners and killing the flow of new enquiries or work.
So what can be done to ensure that a business is still growing and marketing is still flowing, but costs are either staying the same or going down. Certainly as VAT has gone up to 20% now (and for all we know, may continue to go up) many companies are feeling the effects of the small changes here and there effecting their bottom line.
The options are to talk to the marketing company/companies you are using and ask them to talk to their suppliers to get costs down, however this may only shave pennies off of things here and there.
Another option is to modify the marketing that is being done. So for example, if you are spending a lot of money on PR, then diverting some of the spend to on-line PR or press release services will enable you to manage articles and press releases yourself. However as mentioned above, there is the risk that this will knock the effectiveness of the PR or even kill any momentum that you are doing.
Another option is to compare marketing companies and get quotes in from fresh agencies.
This will give you a better feel for prices, as different agencies do price in different ways and can offer a reduced cost to new clients. Also the fact that you are getting a fresh perspective on the campaign, may just bring better results. Changing marketing companies can be risk but sometimes risks do need to be taken, if there is the possibility to bring costs down but also get more marketing done.
It is always worth looking around and comparing the market to find out what is out there. It has been said that you never know until you ask, and asking around to get options and ideas costs nothing but could save you a lot.
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