How to Market Your Company on a Tight Budget

You find yourself in a fork in the road.

As a business professional, you know how important marketing is to the health and growth of your organization. However, your sales have plummeted and you need to make adjustments. The team making your products or providing your service is already stretched too thin. All departments have been reduced to only the most vital employees. Your best option seems to be to cut your marketing department. But diminishing your marketing efforts will undoubtedly slow your growth.

How can your marketing efforts continue without jeopardizing your company's financial health? You have several options.

1) Convert full-time employees to part-time. Rather than laying off your staff or reducing their salary, considering moving them to part-time. Recognize that you cannot expect the same level of work product as when they worked full-time. Also plan for turnover, as your employees will most likely seek full-time employment elsewhere.

2) Reduce of your staff. If you have marketers who are proficient in multiple disciplines, consider keeping them to perform the diverse tasks. Investing in training can help ease the transition. Keep in mind that fewer people are doing the work so adjust the workload and your expectations accordingly. Burnout will only result in employee dissatisfaction and attrition, which leaves you more vulnerable with fewer employee performing multiple vital functions.

3) Cut the department and regroup when the economy improves. This will probably only reduce your income more. Any competitors that invest in marketing will likely gain more market share, thus perpetuating the downward spiral.

4) Use contractors on an as-needed basis. Perhaps the most cost-effective option is to hire contractors. In fact, on-demand, digital marketing professionals may be the best overall answer to your dilemma. While highly skilled marketers appear to be more expensive per hour, there are a number of reasons they actually save costs.

• They are more proficient in their fields and will produce a better product in less time.

• They are subject-matter experts so they require less instruction and supervision.

• Per hour pricing allows you to better control your marketing budget, thus you can hire them for only what you need, when you need it.

• Turnover is virtually non-existent as they expect part-time, temporary assignments.

• There is a tremendous tax and benefit savings. Not only are you not required to pay Social Security and Medicare taxes, you will not pay unemployment tax, insurance benefits, PTO, paid holidays, 401k matching, or any other employee perks.

• Bonus advantage: this also reduces the workload of your payroll and HR departments.

LDT Content Solutions was created to help companies navigate this challenging business environment. We offer expert digital marketing services with a la carte pricing. Our staff of highly-skilled professionals have over a decade of experience in their fields to provide exceptional marketing expertise on an as-needed basis.

Whether you need to see more engagement from your social media channels, better click-through rates from your email marketing, or increased conversions on your website, our team of experts have the skills to accomplish your marketing goals. Employing best practices and proven techniques, our methodology consistently produces incredible results.

Business cycles are unavoidable. In a down turn, only the strong survive. The wise recognize a downturn in the economy as an opportunity.

Protect what you have built in a contentious way and you will find even a relatively small investment in digital marketing will gain you more market share, maintain your company's stability, and help preserve your customer base.

When the business cycle reverses - as it always does - your company will reap the benefits and come through it stronger than ever before!

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