On those few occasions when I am in town for a full week or more, I often go through my “archives.” I found this gem tucked away in a folder that was mislabeled. While not earth shattering, it’s worth remembering.
How can you optimize marketing spending in any economy? It depends what you mean by marketing. (Now there’s a typical consultant’s answer.) Since most people who ask that question are referring to the promotion side of marketing, let’s focus there.
To achieve optimum results, you need to be effective and efficient. Effectiveness is doing the right thing. Efficiency is doing things right. An effective message helps the right prospects understand the value of becoming your customer. The wrong message, no matter how efficiently delivered, does no good at its best and damage at its worst. However, if you don’t make your effective marketing messages efficient, you can still spend too much money and suffer a competitive disadvantage.
So, you must first develop an effective message then work on efficiently delivering that message. First do the right thing, then do things right.