Bridging Your Budget Gap: 5 Quick Tips
by Kristen L. Lewis, Senior Manager, Marketing, Amper, Politziner & Mattia, LLP

If your marketing budget is being reduced in this economy or simply staying the same, you’re not alone.  Here are some quick tips for stretching your dollars further:

1. Renegotiate with vendors. When contracts are up for renewal, closely review your current service level to identify areas to reduce costs. If you’ve recently signed the contract, you still may be able to negotiate more favorable terms given your new budget constraints.   


2. Reduce printing costs. Send e-mail invitations and newsletters in lieu of print, and make materials available on your website. Save on print and postage by doing a major database cleanup to streamline your lists.
3. Re-evaluate your firm’s memberships. Only join organizations in which your staff and partners are active. If no one is attending meetings or networking in the association, there’s no reason to shell out for an expensive membership.
4. Leverage strategic partners. Spread out the costs of holding events or supporting other initiatives by recruiting a law firm or a bank to co-host. They will share in the cost and the responsibility, making more attendees, diverse speakers and additional connections available to you.
5. Plan sponsorships and advertising carefully. Establish spending guidelines and make sure that you only support client causes or events where your people will be able to attend and work the room. 

Little expenses add up quickly. Getting firmer control on the money going out the door will free up resources for your strategic objectives.