In the good ol’ days the marketing budget was the ground rule for all marketing. Sure you could stretch it here or there, but it was set, rigid, in stone, and if you wanted to gain something you had to pilfer from somewhere else in the budget.
This made sense, because often stretching a budget in a certain field of marketing would actually reduce the overall effectiveness of the campaign.
For example, with direct mail, the larger the list bought, normally the less targeted it becomes; or with advertising, repeat advertising, whilst reinforcing the message normally has less effectiveness with the same creative.
So, What’s Changed… ?
1. Immediacy of response measure: with the Internet, new campaigns normally start providing measureable statistics and response numbers within minutes and hours of launch. Gone are the days of uncertainly that come with print and even direct mail. You know, within a very short period of time, whether something has worked, and can further respond;
2. Immediacy of Mimicry: you may not be aware, but you are almost certainly being watched – if not directly, then indirectly and if it is even perceived that you are doing something which is effective, then almost certainly you will have competition very shortly. So sieze the moment when something works as it’s entirely possible that it won’t work tomorrow!
So, when you have found a technique that works, grasp it. Take it. Do it now! Because the chances are that you will be followed and if you have stood still reaping the reward of today, then you will not be ready for when the competition catches up. And if you budget is constraining success, then blow the lid off it while you can!
Keep Pressing On
And, with budgeting in mind, make sure you reinvest in your exsiting site(s) – it is crucial that they remain class leading. What was groundbreaking in 2005 may look a little tired today. Don’t wait for the tide to go out… and make sure your budget doesn’t hinder the full opportunity in front of you.