Trends for 2009: #17. Balancing that Budget - Looking for more bang for the buck

Here it is early February, and I'm still harping on the "top 10 marketing trends for 2009". In fact, I'm up to #17 today. If I keep this up it will December, I'll be around trend #180. AND, I'll be dead on. I promise. I'm nearing the end of my "Trends". There are only about four more to go.

Today's marketing trend has probably already hit home hard for most Marketing departments. Interestingly, back in 2008 I blogged that most Marketers didn't expect their budget to change substantially in 2009. That was based on a number of surveys and reports from respected organizations. Ha-Ha. Was that ever wrong.

At the time the studies showed that 30% of marketers expected their budgets to increase, 45% expected them to stay flat, and 25% expected their budget to drop. I bet by now it is more like 25% hope their budget will stay flat, while the other 75% are facing the actual drop and claw-back from their friends in Finance.

In 2009 successful Marketers will need to become really creative to balance their advertising budgets and achieve results. This will mean the need to become innovative and take some risks. Where is the best place to do that?

• TV? Too fragmented and too expensive.
• Newspaper? Dying media.
  
• Out-of-home? Hmmm - only if you can cut through the clutter with something creative
• Digital video boards? Maybe. These are relatively new and definitely draw in eyeballs.
• Radio? Maybe. If your product or service suits it and you can cut through the noise.
• Direct Marketing? Yes - but do it tastefully, and only do it to your existing customers. Don't go out prospecting. Remember, you must offer value to your existing customers, and there must be a clear call to action.
  
• Stunts? Could be a great way to really innovate in 2009. But, be sure to be original and not come across as a terrorist threat!
• THE INTERNET? OH YAH! There are lots of opportunities to be successful with online advertising. Done well, virtually any type of online advertising will work. Be sure you know what you are attempting to achieve, how you are going to do, and then be sure you do it right technically. Everything from the beaten down banner ad, to simple Google text ads, to a video contest on YouTube can work wonders. Plus, it can be very cost effective and it can be measured.

What is a Marketer to do in 2009? Strategies to follow include:

• Innovate. Don't do what you did last year in the misguided hopes that is could work in 2009. You have less money to play with. Figure out new and interesting ways to get your prospective customer or your existing customer to pay attention to you.
• Integrate your campaigns. If you are insistent on doing old media, make sure that you find great ways to integrate your campaigns across media. Also - integrate them tightly with an interactive new media element. For instance, the media should all simply include your website. Or, maybe it should direct people to sign-up for a contest on your site - which will also help you to create an opt-in email list.
  
• Look for opportunities to do Direct Marketing tastefully to your existing customers. Make sure you catch their attention, make sure you give them real value in your offer, and make sure you have a solid call-to-action.
• Consider (legal) Guerilla Advertising Stunts that will catch attention and give you loads of free and positive publicity.
  
• Try out lots of things on the Internet. If you don't know how, then engage an Advertising Agency or a Marketing Consultant to help you learn more about "how to" and then "what to". (Enough said.)
  

Will I be right? The year will tell!

• Follow this blog and watch for the next marketing trends I'm forecasting for 2009.
• Feel free to contact Market GoGo to discuss this further.