The harsh economic reality is that during this prolonged economic downturn, most companies are spending as little as absolutely possible on marketing. Chief marketing officers are under intense pressure to show measurable results on marketing dollars allocated. Companies are willing to spend on technology, such as marketing automation systems, if it enables them to track and tweak every program in every marketing channel. Meanwhile, media spending is way down. A lot of good people have been cut loose and are on the street. There is constant grumbling about sales numbers.
What is missing, besides funding of marketing, is any anticipation of, or excitement over, a great idea. With everyone thinking small and smaller, we are all losing sight of the big picture and transformative thinking. When everyone is fearful of losing their job, there isn’t a long line of managers waiting to take a chance on something that doesn’t resemble wallpaper to blend into.
Standing out is what marketing used to be all about, before the appearance of one-size-fits-all templates. Today, I heard a radio spot for the UPS Store promoting their easy 1-2-3 marketing materials (instant brochures, business cards, etc.). UPS does terrific branding, marketing, and ads for its own global delivery services. Why are they trying to sell the opposite (cookie cutter answers) to Main Street businesses?
Great branding and advertising can make a huge difference. People anticipate the Super Bowl every year as much for the Super Bowl ads as for the football game. Why not make coming up with a Super Bowl level idea a daily pursuit instead of just a one-and-done event. There is nothing exciting about current economic numbers and I suspect the bean counters are running out of ways to cut costs and make them more palatable. Those who understand the value of superior marketing, then support and fund it will be the ones coming out ahead when the economy improves.