5 Ways to Recession Proof Your Media Planning Job
Learn from Sophie Eom how media planners can ensure their jobs are recession-proof.
While media planning is currently in demand, a potential bear market in the media business may jeopardize a media planner’s job. In this article, Sophie Eom, co-founder and CEO, Adriel, explains five ways media planners can ensure their positions are recession-proof.
Media planning is one of the most in-demand jobs at the moment. But it will not stay that way forever. Particularly with the whole media business preparing for a bear market, recession-proofing the media planning job has never felt more pertinent.
Luckily, there are different ways to ensure media planning remains indispensable to the company regardless of where the economy stands.
1.Be Efficient With Budget Spending
In today’s climate, it is more important than ever to be judicious with how marketing dollars are spent. The first step to recession-proofing your marketing budget is to be efficient with your spending. Prove to your client or boss that you know how to get the most out of every dollar. Doing so will set you up to weather any economic storm. There are a few ways to be more efficient with your marketing budget:
- Make sure you have a clear understanding of your goals and objectives. What are you trying to achieve with your marketing efforts? Once you know this, you can align your spending with those goals.
- Think about ways to get more bang for your buck. Can you negotiate better rates with vendors? Are there ways to cut costs without sacrificing quality?
- Do not be afraid to think outside the box.
There may be some untapped marketing channels that could give you a good return on investment. By being efficient with your marketing budget, you will set yourself up to weather any economic storm.
2. Adapt Quickly
The second step to recession-proofing your media planning job is to be flexible and adaptable. In today’s ever-changing media landscape, it is important to be able to pivot quickly and effectively. If you can show your client or manager that you can adjust on the fly, you will be in good shape to keep your job during tough times. Being flexible and adaptable will go a long way in recession-proofing your media planning job. So when the next big change comes, be ready to show you can handle it. Showing you are marketing-savvy and able to adapt to change will put you in good stead to keep your job during tough times. Being flexible and adaptable is essential in today’s ever-changing marketing landscape, so make sure you are ready to show that you can handle it.
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3. Have a Firm Grip on ROAS
The third step is to have a strong understanding of ROAS (Return on Advertising Spend). It measures how much revenue is generated for every dollar spent on advertising. It is more important than ever for media planners to have a firm grasp on how media dollars are impacting the bottom line. Showing your client or leadership that you are not only keeping close tabs on but optimizing ROAS will make keeping your job during tough times that much easier:
- Use data tracking and analytics tools to measure ROAS for each marketing campaign.
- Compare ROAS across different marketing channels to see which are performing the best.
- Adjust your marketing budget and mix to focus more on the channels with the highest ROAS.
- Regularly review and update your ROAS goals in line with changes in the business environment. By following these tips, you can ensure that your marketing efforts deliver maximum return on investment.
4. Proactivity Is Key
The saying goes, “the best offense is a good defense.” The same can be said of marketing in a recession. Proactivity is key to ensuring that your marketing job is recession-proof. Stay ahead of the curve and be prepared for anything. Carry yourself as a forward thinker who is prepared for any eventuality. This will send the message that you are a versatile marketing professional who can adapt to any situation. In addition, remaining proactive will help you identify opportunities that others may miss in a downturn. By being prepared for anything, you will be able to weather any storm and come out ahead when the economy improves.
5. Showcase Media Expertise
As marketing evolves, it is more important than ever for media professionals to be experts in their field. Showcasing your expertise in all aspects of media planning and buying, from primary search and social channels to networks is the best way to recession-proof your job. By staying up-to-date on the latest changes and developments in the marketing landscape, you will be able to provide valuable insights and recommendations to your clients that will help them stay ahead of the competition. In addition, by demonstrating your deep knowledge of the media landscape, you will be able to command a higher salary and build a reputation as a thought leader in your field. So if you want to secure your place in the marketing industry, ensure you showcase your media expertise.
As media planners, we know that the media landscape is constantly changing, so it is important to stay up-to-date on the latest trends and technologies. While you may not be able to learn everything, you should at least have a general understanding of the new marketing tools and platforms that are out there.
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Take chances and think outside the traditional marketing box. There are many different marketing channels, so do not limit yourself to just the top two: Google and Facebook. Get creative and experiment with different channels to see what works best for your objectives. And back your decision with data. There is no excuse for making marketing decisions without first looking at the data, and always be prepared to show your results. In today’s competitive marketplace, businesses want to see results from their marketing efforts. Make sure you show that your marketing campaigns are effective and provide a positive return on investment.
If you see that a certain marketing tactic is not working, do not wait for your client or leadership to tell you to change it. Instead, take the initiative and suggest a new strategy. By being proactive and staying on top of the market swings, you will be in a good position to recession-proof your job and ensure you remain indispensable to your organization.
What steps have you taken to recession-proof your media planning job? Let us know on Facebook, Twitter, and LinkedIn.
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