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
Why Walmart Will Still Lose to Amazon
It’s Walmart who is terrified.Read More
The Eyes Have It: Looking Beyond Numbers
The value of today’s accountant is changing and we need to be willing to change too, or risk becoming an obsolete machine.Read More
Secrets of a B2B Marketer Part Three
In a multi-channel marketing world, proving accurate sequential attribution and in-turn ROI by media tactic is unattainable.Read More
Exclusivity Doesn’t Mean a Big Price Tag
The principle of exclusivity is easily understood, but too often brands assume there’s no room in their strategy for an exclusive approach.Read More