More than 40% of the senior marketing managers who took our recent survey said their current marketing budget was bigger than the previous year’s. (They’re either good, lucky or both!) Most of our respondents, though, weren’t so fortunate. Nearly one-quarter reported a dip in budget, and 8% of respondents saw
If you’re like most companies, you’re taking a hard look at your marketing budget and considering some difficult choices in response to the current economy. Typically, boom (expansion) and bust (contraction, or recession) cycles average about five years for an expansion and around one year for a recession. That said, the expansion cycle that lasted from 2009 to February 2020 was the longest ever recorded—and most economists are anticipating a longer than average recession.
Scope creep. We’ve all heard of this in the world of project management, but did you know it can happen in your messaging too? Companies can get distracted by what their competitors are saying or fleeting trends, losing touch with what they should be communicating to their customers.
Hockey legend Wayne Gretzky once said: “Skate to where the puck is going, not to where it has been.” It’s an adage that inspires forward thinking in the sports world, but also resonates with the leadership topic of marketing budgets.
“We’ve reached 30,000 ft. You’re now free to move about the cabin.” Bet you haven’t heard that in a while. Though the smell of jet fuel and the sound of takeoff isn’t something most of us have experienced in some time, we suspect those familiar words of reaching cruising altitude may still give you a sense of ease.
If you’re a leader of an organization serving the public safety industry, this is for you. If you want to make an even bigger difference for your colleagues and customers, well, this is for you, too!
The RedFlash Group is a GSA Contract Holder under Schedule 541, Advertising and Integrated Marketing Solutions