Counting the Cost of Communication
“Reduce costs - Improve product and service quality”
These are the demands from the customer in today's marketplace.
A marketplace that by international standards is small yet highly competitive - where every dollar you spend must be seen as an investment requiring a tangible return to your organisation.
To remain competitive in this market we must continue to invest time and money to improve our products and services. And just as importantly we need to invest both in telling our customers and prospects what we have to offer, and how our products and services differ from our competitors. The investment made in communications by companies over the past five years has been one of the most critically audited, and in many cases, severely reduced items of expenditure.
The options for communications strategies are multiple and the costs just as varied.
Traditionally, organisations have produced their material ‘in-house’ or have appointed an advertising agency, public relations consultancy or marketing company. These options have required a considerable investment, the returns on which have been scrutinised, and in many cases found wanting. And for companies committing anywhere from $100,000 plus to advertising and communications budgets, this has caused many long hours of internal debate and ‘soul-searching’.
How does a company continue to invest money in communications, and at the same time hold, or if possible, reduce costs?