The last year has been hard on business, leaving many businesses looking for ways to cut costs. The marketing budget is often the first thing to be reduced because marketing is not always something tangible. Yet, marketing matters in 2021, perhaps more than any other time in the history of your business. If you’re looking for ways to save money, you will want to avoid cutting your marketing budget if at all possible.
The Business Landscape is Changing
Due to COVID-19, many businesses had their businesses move to a completely virtual business model. It worked so well for many companies that they have decided to stay virtual. This reduces overhead and allows for them to focus on the work rather than where they work.
Yet, where people work is not the only thing that may be changing for the average person. The way that businesses are utilizing their digital space is changing. Messaging is changing, the use of the digital space is changing. Even big brands such as Coca-Cola are changing the way they communicate with their customer base. Can you keep up without a healthy marketing budget?
With more companies taking to online marketing tactics such as social media use, paid advertising, and aggressive SEO initiatives, you must be also working to improve your brand exposure. Are all of your current initiatives working? Are you able to pivot strategies if you find that they aren’t working? If you reduce your marketing budget will your brand still get the exposure that you need? The digital space is competitive, and a reduced marketing budget will reduce brand exposure.
Need Help Keeping Up with the Times? Convergent1 Can Help!
Marketing has changed a lot as a result of COVID-19. The digital landscape has gotten quite competitive as it has become clear that brands need to meet their customer base where they are: online. As a small business ourselves, we understand that you are feeling the strain of a difficult year, but the marketing budget will be what breathes new life back into your business. Contact us today or schedule a free consultation to discuss a marketing action plan that can help you succeed, even on a budget! We look forward to working with you soon!