Evergreen and Everlasting!
One unfortunate truth that is evergreen and everlasting is the market cycle. We see interest rates increasing, and real estate and businesses starting to slow. I’ve avoided looking at my 401k for the past 2 years, petrified of what I would see.
It is time to look at what expenses could be cut or reduced, personally and in our businesses. Even I have done it in my business and personal life. Dandelion-Inc is responding to the financial downturn by creating more affordable service packages without sacrificing our expertise. Personally, my weekly dinner menu has been altered to include many more leftover reinventions. It’s like I’m Sandra Lee, Semi-Homemade.
It has been said before, to get your return on investment in the world of digital marketing you need to spend double, if not triple, the amount than what you did five years ago.
We know that digital marketing is an essential component to all businesses. The cost to invest in it can be a burden that’s difficult to bear in an economy that may or may not be heading into a recession.
So here are some of my tips on reducing digital marketing expenses:
- Apply the 80/20 Principle. Keeping your marketing organic. Focusing your efforts on 20% of your market will provide you 80% of your business.
- Please get rid of those digital platforms, software systems, apps, tools, etc. that you don’t use to its fullest capabilities or at all.
- Repurpose and refresh already used content. Now that’s an evergreen and everlasting idea.
- Social media is your least expensive marketing channel. Keep that in mind when looking at ways to reduce your expenses.
The greatest part about applying all the above is that it will give you an opportunity to assess what was working, what was not, what you need, and what you don’t.