I agree with the article “Innovation will bear fruit despite
budget squeeze” (MW last week) because with the economy
still labouring, the famous quotation “innovate or die” has
never been more applicable.
But to innovate effectively, marketers must make a genuine
step-change in their thought process. This means
looking outside their department to see what resources in
their organisation can be leveraged to generate extra value
from their media spend.
For example, looking at maximising the value of unwanted
or excess stock by using the services of a corporate trade
company - in effect a form of old-school barter - to boost their
media spend. These businesses buy old stock or equipment
with trade credits at a higher value than they would be worth
in cash. These credits can then be traded by marketers to
buy media space or printing services, for example, and
generate extra value from their marketing spend.
Marketers that take such an innovative approach in the
current economic climate will drive return on investment from
Vice-president international division, Active International