According to Gartner, 76% of marketing leaders are facing a decrease in marketing budgets. We can expect that cost optimization will remain top of mind for most marketers throughout the year. Optimization efforts must be approached in a methodical, comprehensive, and sustainable way to balance short and long-term impacts.
Sharing a few tips to help streamline focus as we reimagine how to engage with customers and deliver value:
💥Simplify to create focus. Remove duplicity and focus on the things that are most important, mission-critical. This can free marketing up to get more done.
💥Remain flexible, it is not one and done decision, the situation will continue to change. Retaining a holistic view will help not to miss the opportunity.
💥Plan meaningful investments. If things are not aligned with the strategy and not delivering a significant impact on business, then they don’t make sense.
💥Utilize more from existing resources and get full value from your existing MarTech stack
💥Better leverage centralization and rethink operations efficiency. Use technology to reduce complexity, automate low-value processes to simplify, and give back time to market for impact
More on an agile approach to budgeting