Description:

Marketing is more important than ever. But this mantra is not going to keep the marketing budget from being cut when revenue growth does not meet expectations. To marketers, cutting marketing when sales are declining is counterintuitive, but to some in senior management, marketing is a logical target. A recession forces management to make choices. And one of those choices comes down to whether to increase or maintain investment in sales or in other functions or initiatives such as marketing. It seems that they are still choosing sales every time.

Recessions require educated choices, not simply cuts. ITSMA believes that in 2009 consulting and technology services providers need to take a hard look at their programs. Although they will need to deeply cut some initiatives, there are key areas that warrant extra attention and renewed investment. In this Update, ITSMA lays out its views on how companies can achieve greater marketing and sales effectiveness despite the downturn. Specifically, companies need to tackle this challenge on two fronts:

• Reduce the cost and effort to move prospects through the purchase process. In tough times (and good!), marketing’s primary role is to make sales more efficient.
• Market smarter by making the right choices. Customers will still be spending money. What exactly does marketing need to do to help sales close deals? ITSMA has identified four pivotal marketing initiatives:
  • Targeted demand generation and lead nurturing
  • Senior client executive engagement
  • Account-Based Marketing
  • Reference and proof-point management