Choice but to do the same. The question is not so much about having to make cuts. But more about how those cuts are made and what is expected of them. The first problem in the activity of marketers and their budgets in the year of the coronavirus is. As the Gartner analyst explains. That cuts are made across the board and linked to unrealistic goals. Sometimes. These Singapore phone number cuts are based on what. A priori. Seems to be a certain idea of justice. For example. Cut the same in all areas so as not to harm some more than others. However. And as they explain in the analysis. This search for justice for all departments is an error of realism. Not all areas of marketing work the same and not all have the same effects. The cuts must start from the reality of the market and from trying to ensure that the long.
Some areas create easier conditions to make cuts: they are not as crucial or not working as well. In addition. And as the analysis insists. General cuts cannot be made because the value of the investments is not the same. Some areas have higher returns and are much stronger than others. Reduce innovation because you have to apply the scissors The second big mistake Singapore phone number they identify is to focus cuts on marketing innovation. Things were going well for innovation before the coronavirus crisis (it was a fifth of the investment made by marketing departments). But in times of cutbacks. Innovation often goes badly. Usually. Measuring the results of innovation and the investment made in it is difficult. So it is more complex to justify continuing to do this work. The scissors usually start there.
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And that is an error. They denounce from Gartner. If innovation is not measured well. How those measurements are made will have to change. In addition. Innovation is key to the future. The companies that continue to innovate during economic crises Singapore phone number are the ones that come out of them better off. Thinking that cheap is better because it reduces costs Sometimes cheap is good. A bargain to take advantage of. Others. However. No matter how cheap something is. It is not profitable. You are going to spend less money. True. But it is going to go to something that is not needed or that will not offer the return that you want. And that is precisely one of the things that is happening in times of crisis cutbacks (and what happens in all times of crisis).
Marketers sometimes get carried away with what they think is a bargain and assume that less cost is ultimately more value. For example. Now they could take the opportunity to enter television with their ads because prices have fallen. But is it really worth doing and will it offer an interesting return in some way? The important thing is to continue betting on the Singapore phone number right channel for your brand. Not the one that is directly the cheapest. The 3 key mistakes marketers are making with their marketing budget cuts The coronavirus crisis has forced economies. But marketers must choose carefully where they are going to make those cuts Tags budgets marketing cuts mistakes read later favoritesdistance University of Madrid Study degrees. Official master’s degrees online or the doctorate at a distance. The best option to study online.
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One of the derived problems that the coronavirus crisis has generated for marketers is money: in times of cuts and adjustments. Corporate budgets shrink and investment in marketing falls. Seeing that cause and effect was pretty easy. During the first few months of the pandemic. In fact. Many companies outright paused all of their ads and ad spend. Canceling Singapore phone number or postponing campaigns. Beyond the fact that they did not know what the immediate future was going to bring and what their consumers expected. The tendency to be more conservative in spending in times of crisis was also activated. The health crisis. Analysts feared almost from the moment one. Was going to bring a subsequent economic crisis.