Creativity: Best Value for the Money

When it comes to marketing and advertising, a challenging economy could be a great opportunity to start thinking outside the box. More creative, less expensive ideas can stretch the budget, while at the same time presenting compelling advertising and marketing messages.

One way to get the word out in a strong yet inexpensive way is to utilize digital and social media. According to Money Crashers, a company that focuses on education and tips for the finance industry, such outlets offer wide exposure and brand sustainability. They are also substantially less expensive (sometimes free) than traditional methods — print, television, radio — that demand bigger budgets. Money Crashers noted, too, that “the amount you save on your advertising expenses will be well worth the time you spend.” Another strategy is identifying the best target audience, and doing more to reach and engage. Do a little research; find out which marketing and social media platforms customers are using and how they’re using them. “The more detail you can conjure around the habits of your target customer, the easier it will be to figure out how much to spend on a marketing budget, and how to optimize your advertising budget,” according to BigCommerce (a developer of e-commerce platforms) in a piece entitled “How to stretch a small advertising budget for big impact.”

A large marketing campaign can make that big impact and reach a broad audience, which in turn can help grow the consumer base. But while that growth is crucial for the future, large wide-reaching campaigns can sometimes result in poor ROI if the message is overlooked by those without direct interest in the product or service.

Reaching the right people, and in creative ways, with a marketing or advertising campaign keeps the company in the front of consumers’ minds. So, cutting that budget is not the way to go; spending that budget in a smarter, more creative way is.