A new toast: Good riddance frivolity & a heart-warming welcome to savvy marketing

Let's embrace the madness and raise our teacups to marketing on a budget.

Do you remember the days when marketing budgets allowed for flamboyancy? When frivolous hospitality ruled and rounds of drinks consumed in the name of business development could be slyly signed off as a marketing expense. But it's frustration rather than a haze of nostalgic fondness I remember - cringing awkwardly as I watched marketing spend rise that was impossible to measure and flinching at the dubious disrespect for return on investment.

Well, those days are over. Phew. Being more creative with a limited budget could actually be a good thing for the role and credibility of marketing in your organisation. It's an opportunity to strip out the habitual activities that deliver little more than a few tipsy smiles and focus instead on finding new ways to build lasting relationships that will ultimately lead to increased revenues and profit.

Here are a few ideas:

1. Proactively manage your referral network.
An enthusiastic endorsement from a third party is an influential and cost-effective marketing tool. So often people say - "most of my work comes from referrals" - yet do you ever actually ask for referrals? Why not? Could you be collaborating closer with intermediaries to unlock more potential from word of mouth? Is there an opportunity for them to facilitate introductions to their client base for you? Referrals are based on your reputation and trust between the two parties; so why not treat these relationships with the same care and attention you treat your clients?

2. Seek opportunities to collaborate (but be selective).
Creating strategic alliances with compatible partners not only offers an opportunity to share marketing costs and effort but can also bolster your brand and profile. Could you piggy back the marketing activities of a bigger brand that would enhance your credibility and reputation? Do you have a niche expertise or offer that a bigger brand would be interested in? Could you win more work or deliver it more profitably by developing a more joined up approach with a niche supplier? What can you do together to craft an irresistible proposition to a new client? After all in these tough times, half of the work is better than none at all. For shared marketing efforts to work both parties have to benefit, so think what you can bring to the collaboration and what you would like in return.

3. Write articles, speak at events, get your PR up to scratch.
Advertising and sponsorship is a luxury for most firms at the moment. But instead of shrinking into the background, use your expertise to propel you into the spotlight. Yes, it takes more effort, but good quality editorial coverage and speaking slots at key industry events are a far more credible and focused way to communicate your capability and raise your profile within your target market.