Most of the companies are expecting a decrease in their operating income. To secure the financial integrity and ensure enough cash flow to continue operating, companies have already deployed significant budget cuts across the board.
👉 re-think where the future growth will come from
👉 will it be delivered by customer retention or acquisition of the new?
Marketing is adopting agile thinking to enable decisions with minor data, supporting the speed of decisions by modeling out scenario implications in just a couple of days.
To deliver against the priorities, marketers need greater efficiency in the challenging months ahead.
✔Differentiate between no longer relevant, not delivering value vs. adding value to customers in meeting their needs.
✔Technology adoption as a growth investment, to optimize the costs and increase effectiveness.
✔Getting more out of prior and existing investments, more efficient asset and agency management, integrating new digital channels, and improving campaign ROI.
✔Better leveraging collaborations and partnerships, to sense and feel new behaviors and strengthen customer networks.
Useful tip on how to apply budget optimization toward ROI