Marketing Budgets in Times of Crisis

All of your tried and true lead acquisition events are gone (at least for 2020). What now?

The topic of marketing budgets is more relevant than ever as the Coronavirus pandemic disrupts everything from financial markets to industry events large and small. To procure spend and wield that spend in ways that increase trust in Marketing’s abilities, marketers need to pave a clear path to revenue impact.

Budget battles—or at the very least contentious conversations that question the fundamental efficacy of Marketing’s role—are an all too familiar a phenomenon that accompanies any request for increased spending. But when black swan disruptions, such as Coronavirus, suddenly eliminate seemingly safe investments in fundamentals like event marketing, the opportunity to get aggressive and get back to Marketing’s creative roots is something that should have ever marketer salivating with excitement.

A crisis brings both danger and opportunity. So, when the going gets tough, the tough get creative.

For most marketing teams, proposing new and creative ways to engage buyers means assembling a solid business case to support their suggested pivots. In anticipation of those conversations, here are some key steps to ensure you walk out of budget meetings with a collective thumbs up and avoid missing out on what could have been a huge opportunity.