During the last few years of economic recession, I have seen the company’s advertising budget diminish substantially. However, when I began working at IPE in 2008, one of the first things I did was to build a spreadsheet of every advertising expense incurred by the company, divide them into categories, and build graphs and tables that could help to communicate to the IPE owners where the advertising dollars were going. These graphs have helped us to strategize where best to cut spending, and how to improve spending strategies in subsequent years.
For example, one of our goals was to diversify the kinds of advertising we were doing, eliminate unproductive spending (like in phonebooks), and reduce our overall expenditures. In these ways, we have been able to spend less but reach more potential customers in more creative ways.