Buzzgain

Having a limited or constrained marketing budget is a good thing. In fact I am not sure I have heard of any company having a “spend as much as you want” marketing initiative.

Broadly speaking I categorize marketing spend into 4 simple categories for the sake of discussion.

1. Events: Seminars, webinars, conferences, etc. Industry events, trade shows, and your own companies events.

2. Web Marketing: Website, blogs, Search engine optimization, Search Marketing (or Pay Per Click).

3. Advertising & Brand: TV, Radio, Print media, etc.

4. Public Relations: Analyst relations, press, bloggers, social media, etc.

Lets make the assumption that during a downturn, you have less money but a little more time – meaning instead of 60 hours you are willing to work 70 hours a week

The number one thing that goes out the window during tough economic times is generic brand advertising. That’s the place I’d cut first. Not because its not useful or not easily accountable, but its the most expensive.

Events also tend to be a lot more expensive and since attendence during a bad economy is worse, I would recommend looking at cutting that next.

Within Web marketing I suggest a double down on search engine optimization and reduce your overall PPC (again since its expensive).

Public realations and communications is one of the better areas to spend money on. Why? Its not as expensive, the returns (if you have web based PR, even better since they generate leads not just brand awareness) are tangible. That’s apparently the same view of the folks at Sequoia who cautioned their entrepreneurs to buckle up for a protracted downturn.

In a downturn, aggressive PR and Communications strategy is key.

In fact, I’d suggest Do It Yourself PR, which will reduce your cost and keep organic traffic (hence prospective customers) coming to your website.