I am guessing that a few of you (or more) have been asked to cut your budgets for 2009. So what are you going to give up? Do you have to give up anything? Can you maybe just take the slack out of the line and do more with less? ABSOLUTELY!
Let's make this blog short today...Here are some areas for you to review before you panic too much!
1. Take a look at your media buys. Do you invest in television spots? Are you getting enough airtime to really get noticed? Do you get premium spots or mid-day on TBS? If you aren't getting the airtime to make a difference, think about cutting here, or applying it to a media that will garner more exposure.
2. Donations. You all make them. But how many times a year do you donate to the United Way? Do your branches have a discretionary budget for market-specific donations? Are they all giving to one organization but at a lesser amount that will generate less publicity? What if you tighten those reigns a little and make one substantial donation (which may be less in total!).
3. Chotchkis. One of the greatest potential threat to your budget. You know those pens, pads, suckers, dog biscuits, mending kits and water bottles you buy to give to people (sometimes for no good reason)? I understand the concept of price breaks, don't get me wrong. But in TOTAL, you may pay less per pen, but have a bazillion more pens than you need and a higher bill to pay. Your staff does not need a scratch pad with the bank logo on it, and the dogs and kids will never miss the suckers (and neither will the owners/parents!). Take a good hard look at your inventory...think about a "just in time" inventory system rather than having things on hand. And you don't have a to have a new t-shirt for every parade your employees walk in!
4. Have everyone brush up on their people skills right now. You will be amazed at how far a smile will take you during tough times!
And remember to be extraordinary today!
Jenna
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