1. In order to maximize your media dollars, try to centralize your purchases. This will give you more media-buying negotiation capacity..
2. Start transitioning to shorter formats for TV spots. This will give you more frequency, and depending on your media-buy it could also give you more reach.
3. Extend or recycle past successful campaigns. If you’ve had recent success with an existing campaign, why pull it out. Keep it on the air, and you’ll have on production, media, and agency costs.
4. Avoid making long-term media commitments at the beginning of the recession. Media conglomerates will eventually lower their rates, and that’s the perfect moment to begin negotiating better rates.
5. Consider executing more campaigns where you can target and measure the response of your audience. For example, leverage the web (i.e. Google, Yahoo, and MSN), instead of network TV.
6. Build a case for advertising brands jointly. By having a well-defined target market you’ll be able to reach one audience with two products, while saving resources.
7. Outsource creative and production work to overseas. There are many prominent smaller firms that are willing to work for a fraction of the cost.
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