Marketing departments always seem to have an on going battle with CFO’s and accounting. With the current economic status, this can even be a bigger battle. I understand that everyone has to do belt tightening however, we must never lose sight that we still have to do business. The bean counters always want to look at what is being spent on advertising. They see money going out but not always the “instant” ROI. If there is any time when marketing is highly important it is during these tougher times.
We are in the discretionary dollar business. Even in the best of times these dollars are pulled in many directions. This is why it is so important to get your show or event the most exposure possible. You may not have a lot of competition but you do for the $$.
Here in Boston, we have a Dunkin Donuts on every corner. Everyone is “addicted” to the coffee. So why do they continue the spend tons of money in the market place?
Six Flags has a campaign this year that reflects the current state of our economy. Their parks are geographically located to draw from many markets. With the current price of fuel, they have a problem. Their current promotion is that everyone pays the kid price. Basically, they lowered the price. Still, they haven’t slowed down on the advertising. They are running a lot of TV to promote this. This could be a make or break year for them.
Don’t get me wrong. You may not have a choice but to cut back on $$ but that is where the marketer in you comes in. Add “low budget” items to your plan (the bean counters like this). Non-traditional marketing is one area to include. The goal is to create maximum exposure.
Remind the bean counters of three things: 1) You still need to tell the customers about the event. 2) You may have to try even harder to get the business. 3) Don’t hurt the customers experience so they will return.
Tags: bean counters, marketing budgets, discretionary dollar, Six Flags price promotion
