Globally Boundless: How to Cut Your Marketing Budget Without Cutting Your Throat

PORT MOODY, BRITISH COLUMBIA, Nov 12 (MARKET WIRE) --
The current North American market crisis has companies slashing marketing
initiatives at unprecedented rates. What companies forget is that when
they cut marketing to cut costs, essentially they may be cutting their
throat. Globally Boundless, a 35 year-old direct marketing communication
company, is helping their clients weather the financial storm by
providing critical advice on how to responsibly cut their marketing
without putting themselves out of business.

"For the first time ever we are seeing a systemic annihilation of
marketing budgets," says Brad Liski, Executive Vice President, Global
Sales. "Over the past few weeks we have received hundreds of calls from
companies looking for advice on "what to do", the true winners will be
those who are able to throttle back on specific tactics, see reactions,
results, and readjust their budget."

Throttle Down

Companies need to immediately throttle down on all marketing activities.
The current economic situation must be reacted to and cutting back is
necessary. Throttle down on all activities equally, but DO NOT eliminate
any single activity until you know how the consumer will react to the
crisis within the next 90 days. Be sure you are able to understand the
impact of a throttle down though. This requires patience and full
understanding of each activity.

Metrics are the Name of the Game

During poor economic times, metrics are the name of the game. Companies
should be able to clearly define and have a per-tactic spend of your
marketing dollars. If you don't know exactly how much you are spending on
each individual marketing tactic, you will not be able to clearly define
where you can immediately increase or decrease spending.

Response Analysis

Companies need to immediately complete a response analysis and return on
investment calculation on anything that is measurable. Without this
information you could very easily cut the only thing that is bringing you
customers. Response analysis compares responses to specific marketing
activity in a geographic or demographic area. From there, produce a
Return on Investment statement, this compares actual sales to a specific
marketing activity in a geographic or demographic area. Both are critical
to success in determining marketing spend efficiency.

The Dashboard

Immediately put a dashboard in place to measure marketing material
effectiveness. If you cannot afford a technical dashboard, create your
own. Develop a spreadsheet to monitor responses. Help your employees
understand the importance of tracking results. If budget does permit, put
all marketing efforts into one real-time dashboard. The dashboard will
help you understand if your marketing dollars are actually doing
anything, and it will also help you understand how the consumer is
reacting to your company in these new market conditions.

Real-time Reaction

As your measurements come in, throttle up on tactics that are working and
throttle down on those that aren't. But be cautious. Again patience is
necessary and an understanding of when specific activities are being
seen. Reacting swiftly and in a timely manner is very important. Also, do
not completely eliminate initiatives that are not currently working.
Throttle it down more because if you abandon all tactics but the one that
works, you will inevitably end in failure.

About Globally Boundless

Globally Boundless is a direct marketing communication company
specializing in targeted marketing strategies. With over 35 years of
experience Globally Boundless has complete fully-integrated in house
services including Marketing, PreMedia, e-Services, Data List Management,
E-mail Marketing, Variable and Static Printing, Direct Mail, Inventory
Management and Fulfillment and Response Analysis technologies.

Contacts:
Globally Boundless
Brad Liski
1-800-856-4984
Email: bradl@globallyboundless.com
Website: www.cutback.myBoundlessSolution.com

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