Marketing News: Maximise your marketing plans for the rest of this year

Maximise your marketing plans for the rest of this year
As many businesses re-open across the UK, we have put together a 4 point plan on how to maximise your marketing budget to help your organisation remain visible and relevant in these challenging times.

Revisit your marketing plan
The first thing is to revisit your marketing plan and look at how you get the balance right between short-term campaign opportunities and your long-term goals.

With many marketing budgets slashed, it’s tempting to focus on shorter term performance marketing and sales promotion to hit targets.

Writing in Marketing Week, Mark Ritson explains in his article on Marketing in the time of Covid-19 that: “Confronted with a 50% cut in marketing budgets, the smarter play is to actually focus more of it on the longer-term brand-building mission. Performance marketing is going to underperform in the current market conditions.”

But how do you get that balance right? The answer is to revisit your campaigns at all levels. Look at what successful companies are doing well and stay true to your long-term brand values.

A great example of this is Amazon, which has continued to rollout it’s lucrative Prime subscription as well as other propositions such as ‘Amazon Fresh’ (which aims to take market share from online grocers).

Be visible
Make sure you stay visible. It sounds simple but it’s crucial that customers know you are still operating and can trust you as a supplier. Address the current circumstances and have the assurances in place that customers need in this uncertain time.

For example, Booking.com maintained a high profile through using tips and advice in regular email blasts when people were unable to travel. It switched its focus on the staycation market and has since changed its terms and conditions to allow last minute cancellations in certain circumstances.

Work smart
Are there ways to streamline processes, workstreams or functions? In some cases, marketing automation can systemically and automatically get jobs done, freeing up valuable time and resources.

Arjan Dijk, CEO of Booking.com said that marketing automation has allowed his teams to use insight  to help speed up growth in regions and demographic segments that still show a propensity towards buying travel.

Support is available
Although many of us continue to work from home, there are numerous marketing channels that can be used to get in front of your target audience. There are digital platforms such as Facebook and Instagram as well as traditional forms of advertising such as TV, radio and direct mail.

Royal Mail has introduced an ‘open for business’ scheme with a special discount of 10% off advertising mail and 15% off door drop mailings. Direct mail coupled with a digital marketing strategy could help you stay in front of customers and prospects in these challenging times.

Further Reading
Preparing your marketing plans the coronavirus downturn The Drum
15 practical ideas to help you create an action plan for business in a global recession Smart Insights
Amazon’s marketing strategy: 5 ways to win on social Talkwalker
Booking Marketing Chief Skeptical Rentals Will Recover Faster Than Hotels Skif