How’s this for sobering:
“After a year of fragile and uneven recovery, global economic growth started to decelerate on a broad front in mid-2010. The slowdown is expected to continue into 2011 and 2012 as weaknesses in major developed countries continue to provide a drag on the global recovery and pose risks for world economic stability in the coming years.”
That’s an assessment of our current economic conditions from the Department of Economic and Social Affairs and the United Nations Conference on Trade and Development.
We’ve all seen it; shrinking budgets, shrinking staff, you know the drill. So, how can your marketing teams remain on budget and still deliver the activities required to stay in front of your customers?
The answer is simple: partner for success.
The implementation is a bit more difficult. Many of our clients, especially in aerospace, are accustomed to keeping many marketing activities in-house. But flame-out is easy to experience when responsibilities and expectations continue to grow while budgets are shrinking.
So, what’s the answer?
- Adjust your flight plan to include some experienced and educated partners who will support your efforts toward reaching (and exceeding) your strategic goals.
- Evaluate which areas may be less costly to farm out and those that require internal knowledge and need to be kept in house.
- Integrate partner suppliers with internal groups to fill your gaps.
- Let go of the controls. It may be a bit unsettling at first, and some might see it as competition, but collaboration with a trusted partner can help you deliver at higher levels and in many cases even lower overall costs.
Signing off for now from Merrillwood Ranch…
The way I personally avoid flame out is to spend time on my ranch and It’s time to groom some horses.