Recently, I noted that innovative companies are not just content to ride out the recession — they’re taking advantage of the economic disruption to strengthen the fortunes of their brands. Rather than retrench, they’re actually increasing marketing and communications spend, whether to gain share, grow in new markets or strengthen relationships with their constituents.

Obviously, not every company is in position to ramp up spending. Despite economic “green shoots” it is clear that business conditions are still dismal, and that bigger branding and communications budgets may not be in the cards.  Nevertheless, we’re urging our clients not to sit on the sidelines while competitors may be making significant moves in the marketplace. In this environment, it’s simply not wise to throw up your hands and say, “I don’t have the budget.” You may not be able to spend what you want, but what’s critical is that you spend where and how you get the most value.

At one time, answering the questions of Where? and How? was relatively straightforward. In a world of limited media options, clients generally knew what to do. But this has changed dramatically with an evolving, multi-platform media lanscape, generating a vast new wave of cost-effective branding opportunities. The recession has made these options attractive, but they can also be bewildering. More than ever, clients want to know how to best leverage the money they have — how to build and rebuild stakeholder connections through the best means possible, means that are tactical, metrics-driven and reasonably measurable.

While every company (and its situation) is unique, we believe there is enough commonality to develop a set of best practices for spending in a recession. One is to assess and understand the situation and ESTABLISH A GOAL. Two is to MAKE A PLAN that leverages the most cost-effective means. Three is to DESIGN FOR TODAY — AND FOR TOMORROW; that is, execute for the short term but with an eye firmly on your long-term vision. This is not revolutionary thinking — in fact, to a large extent, it’s back to basics — but it’s a regimen that, if followed with disciplined rigor, will not only see you through the hard times but position you well for success in the upswing.


Establish a Goal (Be clear on your intent)

The important thing to remember is that a goal is not a deliverable. It is a business objective aligned with strategy and focused on the needs and beliefs of the audience. Perhaps you’re seeking to gain more traction in a specific market. Or you may be looking to shift perception now that your business model has changed. On the other hand, you may be in emergency mode, rebuilding either trust among hard-hit investors or greater engagement in a workforce that is feeling anxious and disconnected. These are the kinds of clear goals that ought to drive every project — challenges and opportunities that give each execution something vital, and tangible, to work toward. Again, be really disciplined about this. The more specific and targeted your goals, the more focused and efficient your efforts will be and the more significant the dividends.


Make a Plan (Measure twice, cut once)

In the current environment, branding teams are looking for innovative ways to engage — and with today’s options, many of the best ways are also the most cost effective. Plan carefully, and choose strategies based on their ability to efficiently deliver definitive results in service to your goals. Right now, one of our primary roles is helping clients leverage interactive opportunities, whether by moving more communications online to increase reach and operational efficiencies or creating buzz at minimal cost through viral marketing and social media. We’ve also had success increasing impact and driving down costs by consolidating budgets around the biggest issues, creating multipurpose, repeatable concepts, and finding ways to gauge effectiveness and make rapid adjustments as needed. What’s important is that you’re smart about the plans you make and the way you execute.


Design for Today and Tomorrow (Invest in tomorrow today)

We strongly believe that even in a recession, preparing for the long term is vital, not only because recessions end (they do), but because this downturn is special — a disruptive event likely to reshape the way people think, spend money and determine value. So while your spending probably needs to be focused on tactical “quick wins,” you must also prepare for the upswing. This means forecasting what customers will care about, deciding what attributes and positions will win in the marketplace, and determining the resources you’ll need, both internally and externally, to develop new offerings and innovative concepts that will give you a competitive edge. This may require investment in research and/or future-vision projects, but — despite the current pinch — this is money well spent.

In sum, now is no time for marketers to relinquish the initiative. Rather, marketing budgets can (and should) be made to work harder. All it takes is clear strategy and a focus on achievable short-term goals - plus a long-term view that enables you to see the light at the end of the tunnel, and beyond.