So why not embrace this uncertainty and set aside 5-10% of your annual budget to try new things? You could give your agency (hint hint) some reserve money to concept ideas on your behalf. You could run a wacky promotion that you’ve always wanted to try but were a little scared to. An unforeseen partner opportunity may arise. Or, a new technology or social platform may spring up that you think would be perfect for your brand.
If you know going in that the money you spend on these types of projects is experimental, then you won’t be so disappointed if things don’t work out. At least you’ll know it failed and can move on to the next thing. Who knows? One of your trial projects could be the one that gets your struggling brand moving in the right direction again.
So go ahead. Try it. Be spontaneous (but be strategic). It’s fun. It’s freeing and it’s what all the cool kids are doing.
Share This Insight
Emily H. Griebel, a marketing strategist since 1997, developed her skills at some of the top marketing firms in the country (including 8+ years at MWC). She now runs EHG Consulting and offers strategic planning services to organizations that can't justify the need for a full-time marketing director. She can be found on LinkedIn or @EmilyHGriebel on Twitter.
Published on April 21st, 2013
Back. Then Forth.
It’s as true in business as it is in sports: Sometimes you have to take a step back before you can go forth.Read More
What’s the ROI? Wrong Question
Some things can’t be measured, but that doesn’t mean they’re not valuable.Read More
How Winning Slow Beats Failing Fast.
Today’s need for speed in business has reached such a level that dangerous habits and quasi-religious worldviews have even grown out of it.Read More
Fall Reading List
Most, if not all, industry leaders find and retain success with the help of a big pile of books.Read More