Media budgets? Get more for less.
As we move into 2023, economic forecasts are painting a worrying picture of doom and gloom – and many of our clients are experiencing real budgetary pressure as a result of this commercial pessimism.
Naturally, when budgets are reduced it makes sense to re-focus and adjust your plans accordingly. What’s more, we often find that performance expectations remain unchanged or even rise despite falling budgets. And that can make our task as marketers seem all-but impossible.
Here at Opticomm that’s just the sort of challenge we thrive on.
Our process is perfectly suited to times of austerity and, immediately, there are four things you can consider which could make a real difference to your prospects and help your marketing pound work harder for you:
1. Focus your audience –
by targeting a tighter audience you can often gain a higher Share of Voice (SOV) and increase frequency – even with a decreased spend.
2. Concentrate on a specific geography –
rather than using a scattergun national approach you can tailor your footprint to the best possible areas in order to maintain – or even increase – your SOV.
3. Adjust your campaign window –
convention tells us to run our campaigns across calendar months, or four-week blocks. Why not just two weeks? Or even just a day?
4. Buy clever –
it’s possible to take advantage of cheap media options but not in a way that blindly says ‘its cheap so do it’. Instead you can home in on channels that really make sense and precisely deliver the audiences you need. Is there a way of using the media that will create just as much value but deliver it at a lower price point? Here at Opticomm over the last six months we have been developing deals designed to do just that.
Don’t just take our word for it: by employing a number of these tactics we’ve achieved great success for our client Oppo, the up-and-coming challenger brand in the mobile phone space. We restricted their Reno8 launch to just 3 major cities; London, Manchester and Liverpool and the results were excellent.
And with Marie Curie we have worked hard to refine their target audience in order to deliver more successful and cost-effective brand and response work.
If your business is dealing with increased budgetary pressure, get in touch with us today and we’ll demonstrate how these options can work harder to deliver you more for less.