Spend Money or Energy? In these lean times decisions on cash investment is a real area of focus. There are excellent and well established models for evaluating such investments ROCE, NPV, Breakeven and payback periods. More difficult is where you spend energy and not money – the opportunity costs of doing something vs. cold hard cash. If we think about Social Media the power of these channels to market lies in the time and creative energy you commit, not in the money you invest. 1,000 hours of getting links, referrals and recommendations can pay back significantly in a world where ‘Peer Recommendation’ is valued over ‘trust the expert’.
Guerrilla Marketing plays the same game, unconventional promotions such as flash mobs, graffiti or sticker bombs. Targeted at unexpected locations and aimed at creating viral conversations. Creativity and energy are the watchwords, not cash.
When you think about your next budget cycle – how much time do you spend thinking about the ‘Energy’ line vs. cash?
