Forbes Business Council, an exclusive networking community for senior executives and business owners focused on professional growth, connection and visibility, recently tapped Aker Ink CEO and councilmember Andrea Aker for insight on reevaluating marketing budgets to curb rising costs.
In the article, “19 Strategies Business Leaders Can Leverage To Avoid Passing On Rising Costs To Customers,” Andrea and fellow members provided creative ways to keep costs low when inflation is on the rise. She encouraged business leaders to make strategic shifts in their marketing efforts — including where ad dollars are spent, and whether tactics should be paid or organic. However, she warned that scrapping the budget altogether could damage brands in the long term.
“Reevaluate doesn’t mean cut or eliminate, which will backfire when it comes to new customer acquisition and brand awareness,” said Andrea. “It means using data to make informed decisions.”
At Aker Ink, account management professionals consistently communicate budget insight and allocation with clients, maintaining transparency on precisely how their money is spent and the impact it makes. Additionally, the team adjusts tactics often to ensure the right messages are delivered at the right time, at the expected cost.
