Aviation Marketing: Trimming marketing expenditures

Blog 92 Aviation Marketing: Trimming marketing expenditures

How to keep share-of-voice and maintain industry presence

Cost reduction is nothing new. The great recession accelerated the learning curve on how to reduce expenditures by cutting personnel and marketing investment. However, as we fast forward to a new year and a recovering economy, when asked to reduce marketing expenditures one must take into account the value of marketing and the influence it has on the behavior of your customers and competitors.

Where to start?

Begin by taking a realistic approach to reducing marketing expenditures. Identify what is essential for maintaining share-of-voice, brand awareness and customer attention.

Outbound marketing areas to review:

  • Advertising
  • Directory listings
  • Direct Mail
  • Public Relations
  • Tradeshows
  • Telemarketing
  • Email

Inbound marketing areas to review:

  • Website
  • Social media channels
  • Video sharing sites
  • Newsletters
  • Search optimization
  • Events sponsorship
  • Tradeshow participation

Making smart decisions

A consequence of reducing marketing expenditures is a void in share-of-voice. It can be easy to justify drastic reductions in the hope of returning later when better financial times arrive. The fallacy of this strategy is that previous investment is lost and the completion fills the void left behind. Playing catch up is an expensive proposition because now the competition has the customer’s attention and it will require more investment to return to the status quo.

A more thoughtful approach is to review tactical executions such as reducing ad size, cutting back on frequency of placement, and the number of publications. If done correctly this can yield a reduction of 50% or more in outbound marketing cost while still keeping a presence in core industry segment publications.

Customer perceptions

While some may argue that marketing and the various tactics used to change customer behavior contribute little to the bottom line, customers notice the brands’ absence and begin to question brand health, viability and commitment to the industry.

Keeping a commitment to inbound marketing assures that these channels do not become neglected.  In fact, these channels can become the focus of the marketing efforts because they are owned and do not require continual purchase of space and time.

The following should be reviewed for tactical execution and resources needed to keep the outbound program vibrant.

  • Newsletters – keep customers informed by telling an expanded brand story.
  • Blogs – highlight employee expertise and extend the effectiveness and reach on social media platforms.
  • Emails – invite customers to events and keep a steady stream of valuable content delivered to the customer’s desktop.
  • Website updates – keep the site fresh with announcements and social media postings.
  • Video Produce iMovies and post to syndicated video channels for optimized web search.

Marketing budget reductions happen, those that that take a strategic approach can minimize loss of market share and industry presence.

Additional articles you may find of interest on this topic:

Why advertising is important in aviation marketing

Why internet advertising matters to aviation marketing

Emotional ties create strong brand loyalty

Please leave your comments or thoughts below.

Aviation Marketing: Social marketing begins with the correct strategy

Scoal Marketing Strategy Labyrinth

Social marketing can build relationships during the extended sales cycle.

Today, a few innovative aviation marketers are using social marketing to extend the engagement with key constituents during the sales cycle. Relationship driven, people-to-people marketing is generating brand awareness, highlighting thought leadership, and humanizing the brand.

Why is the correct social marketing strategy important?

Because 90% of buyers start their search for an aviation product or service via a search engine, not a company website, it is imperative that marketers understand to whom they are selling and where they congregate.

In addition, social marketing has a lot of moving parts. Marketers are simultaneously engaging new customers, nurturing those further along in the sales cycle, and rewarding those that have purchased and are now brand advocates.

Creating relevant content that focuses on the purchaser’s corporate pain points requires multiple campaigns based on the sales cycle. Depending on whether the audience is an influencer or purchaser, content needs to be developed for each, addressing their concerns.

How to extend the engagement

The biggest mistake marketers make is not paying attention to the landing page. Simply making an offer for authoritative information and then linking to the corporate website is a sure fire way to end interest and engagement. Marketers should create specific landing pages for each offer, reinforcing the offer and asking the viewer to share a modest amount of information in return for the desired content.

In essence, the landing page becomes the face of the brand, delivering on the brand promise.

Different audiences, different addresses

Through social marketing listening, marketers can determine where their audiences spend most of their time and where they are likely to make the purchasing decision. Younger engineers may spend their time on Facebook checking out events at an upcoming trade show, while senior executives may be more inclined to peruse a pay-per-click link on LinkedIn.

Social media channels should be tested to determine which will be the most effective and return the best results.

Segment but don’t alienate

Different social media channels offer different ways to segment their audiences. LinkedIn, for example, allows companies to target demographics by location, job title, age and gender. While this is important, don’t alienate those that  see themselves as future key decision makers. Allow this group to participate by signing up for news updates or special invitations for future events.

Photo CC BY Flickr, photo credit Fdecomite