How Can Marketers Be More Effective?

comScore’s Eli Goodman offers advice

Many marketers are finding themselves in a difficult situation. They are trying to meet the same goals that they were given before the recession hit, but now they have smaller teams and budgets to work with. So, what can marketers do to succeed?

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While there is no easy solution to this predicament, there are some strategies marketers can implement that will help them be more effective during these times. As Eli Goodman of comScore says in the above video, marketers have to take a balanced approach to decision-making. In other words, marketers should not base all decisions on data or on their “gut feeling.”

“It’s finding a happy medium between the two and challenging yourself as a marketer,” says Goodman.

He also points out that every company is different. One company might need to pay closer attention to the data, while another company should rely more on the “gut feeling.” A combination of the two, however, is a good rule-of-thumb to follow.

In addition, marketers need to communicate with other departments as well as the other marketing divisions within the business. This lack of communication is a growing trend in businesses and can results in serious harm.

Goodman offers this suggestion: “Put it all together under the same umbrella and then start to figure out maybe where you’re doubling up.”

If marketers apply this advice, they can find areas in which they can be more efficient.

So, in spite of the economic turmoil, it is possible for marketers to be effective, but it does take hard work.

Do you have any tips for being an effective marketer during these times?

Ways Your Business Can Save Money

It starts with your office

Every business likes to save money, but when it comes to what should be cut to save the money, many businesses are at a loss. So, before you make the difficult move to cut budgets and maybe even staff, think about ways you can cut your office expenses.

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As pointed out in the video above, you would be surprised at how much money can be saved just from your office alone. Business consulting expert Ken Gaebler of Gaebler Ventures said that office expenses can amount up to as much as 5 percent of total revenues for small businesses.

He went on to say, “Every dollar you save on office expenses is a dollar that can be used to grow the business.”

In order to cut your office costs, you should consider operating virtually as much as possible. The Internet provides numerous ways to communicate, which makes the idea of running a business virtually feasible.

Secondly, try re-negotiating your lease. Since office vacancies are currently on the rise, landlords are willing to be flexible to keep their tenants and keep them happy.

Thirdly, you might want to think about sharing your office space with another business. This could also be an opportunity to increase your sales by working closely with a complimentary business.

The fourth way you could reduce costs is by utilizing economic development zones. Some communities have these areas which offer tax deductions along with other perks. If your town does not have these zones, contact your city officials.

Lastly, you could try finding short-term rentals. The advantage of short-term rental properties is that they eliminate being locked into a long-term contract. If you have a week-to-week or month-to-month agreement, you wouldn’t have to worry about your contract if you needed to take a drastic measure, such as downsizing.

You can also cut costs by utilizing used furniture and using energy efficient light bulbs. In addition, businesses can save on printing, ink cartridge, postage, and telephone expenses by enforcing electronic communication and storage.

What are you doing to cut your office expenses?

When businesses try to cut costs, they sometimes think their only option is to cut budgets. However, there are many expenses that businesses can cut right in their own office. Business consulting expert Ken Gaebler of Gaebler Ventures even said that office expenses can amount up to as much as 5 percent of total revenues for small businesses.

As Reporter Abby Johnson explains in this broadcast, 5 ways to help businesses cut their office expenses include:

1. Operate virtually as much as possible
2. Re-negotiate your lease
3. Share office space with another business
4. Check out economic development zones
5. Find short-term rentals

To see a full explanation of these tips, tune into this broadcast right here on SmallBusinessNewz.com.