A year ago we published a paper on marketing in a down economy. We identified 11 key tactics. I will share them in this blog over the next few weeks, but if you want them all at once you can download the paper free.
The first one is to “Eliminate non-value added activities.” There is nothing magic here except execution. Closely identify each and every one of your marketing and sales functions to identify non-value-added activities. In good times, every function acquires some “slop” as a natural consequence of rapid growth. This muda (Japanese for waste) should now be painfully apparent in your marketing and sales. Now is the best time to eliminate that waste.
You should take a look at how your marketing and sales functions link together into an overall marketing and sales process. Re-engineering your existing marketing/sales process may take more resources than you care to spend just now, but the return on investment will last well into the next economic boom.