marketing budget

Is it just me, or does 2020 feel like one giant, real-life game of Jumanji? Sure, a board game hasn’t really taken over our lives and transformed common household items into deadly creatures (I digress…) but this year’s twists and turns have made it tough to predict what the world has in store for us anywhere past 3 months from now.

When it comes to the wild world of business, high stake decision-makers and dealing with little visibility can create a big problem. Alas, the game goes on. Here’s how they can best play through the months to come and how to approach your marketing budget in 2021. 

1. Focus on what works. Forget the rest.

Data-driven decisions run the world. As budgets shrink, the importance of paying attention to what is working – and what isn’t – grows. When marketers face budget cuts, it’s only natural to cut the areas that are intangible and don’t drive an exact ROI. But opportunities missed by most marketers is usually hidden behind a poor data infrastructure. 

There is more to measure than meets the eye. Everyone has gone digital. Content consumption has exploded across connected TV and social media in tandem with search engine query booms between Google and YouTube. 

So get to know your hand. Understand the cards you’re playing with. It’s time to take a hard, holistic look at your digital ecosystem and really define what’s worth keeping – and cutting – in 2021.  

2. Sales + Marketing Will Be A Power Team

The entire premise of marketing in business is to serve the sales environment. But instead of making it easier, we’ve strayed from that foundation towards miscommunication, department segmentation, and “feel-good” assets that simply don’t perform. 

Like any good team, communication is key. A benefit of budget cuts is it forces us to take a step back and take a hard look at what’s working – and what isn’t. How can Marketing truly drive sales? How can they work together? The solution is simple, given you have the conversation.

3. More output for equal input. Who could ask for anything more?

We’d be doing our expertise an injustice if we didn’t share the efficiency techniques that allow creative teams to deliver more – for the same or less. Now, this is to not be confused with the ability to use technology to replace creative – no AI can replace the emotional experience sought to be achieved by creative teams. However, ML + AI has made the process of delivering creative more efficient. As evidence of this, we’ve developed our Ready, Set, Return series for clients looking for quality, fast-turnaround deliverables they can leverage in key communications.

If your 2021 marketing budget leans towards efficiency, impact, and optimization – you will be 100% set up for success in the unforeseeable, foreseeable future. 

Interested in how Quicksilver can make the most of your marketing budget? Reach out to us today!