Do you know what you want to achieve with your business, but don’t know where to start? Here are some tips to implement a winning and profitable strategy. According to the “ 2017-2018 CMO Spend Survey ” included in the Gartner report, about half (47%) of the CMOs interviewed worldwide still use traditional methods to calculate the marketing budget.
Typically, the budget from the
previous year is transferred to the next period, increasing or decreasing it based on the decisions and choices made by the company. But the world of marketing has changed a lot and it is time for companies to build new innovative strategies to keep up with the times.
Gartner’s report reflects this
change: two-thirds of the Marketing Directors interviewed, in fact, intend to increase digital initiatives, investing more in analysis, digital ads, e-commerce and social networks . When you calculate your marketing budget – so you can get the most out of your marketing without wasting a single penny – there are a few things you need to consider.
Here’s what they are. Calculate your
budget based on your expectations Many companies set their budgets by allocating 1% to 10% of their revenue. But to calculate your budget you must first be clear about your goals and know what you want to achieve . Only then will you be able to calculate your return on investment (ROI) .
For example, an investment in a brand
requires a significant commitment of resources and is a medium-long term investment. If, on the other hand, your strategy involves generating leads through registration forms, content downloads (ebooks, videos, etc.) and other services, then you will have to establish how many of your leads you want to convert, becoming customers.
Experimental mobile transactions were cyprus phone number library conducted in Finland and Sweden in where a mobile phone was used to pay for Coca-Cola vendin machines and car parkin . It was commercially launched in Norway in The first commercial transaction systems similar to bank and credit.
If you know your goals it is easier to
define the most relevant actions. Organize your team It is important to have a united and structured team. The Marketing and Sales departments must work together, pursuing common and jointly defined goals . Marketing & Sales Funnels Source: HubSpot.
The marketing team must work to generate
Marketing Qualified Leads (MQL) for библиотека иностранных данных the Sales team. MQLs are leads that have shown interest in your company, for example by requesting a meeting or contact or asking questions about your services or products. The Sales team will decide, after due evaluation, if those MQLs can become Sales Qualified Leads (SQL).
If the Marketing and Sales teams bmb directory are aligned, your chances of converting leads and turning them into customers will increase . You have the budget and the crew, now take action Once you have the funds to develop your marketing strategy and you have aligned the teams, it is essential to create a workflow.
This means that you will organize the activities
within certain time frames, tracked according to specific parameters. This process is called “ Scrum ”. First you need to identify the roles of each team member and define their responsibilities. Then you will need to mark each task, according to specific objectives, to be completed within a certain time (this is called a “ Sprint ”).
Source: edelalon.com Every day all teams will have meetings to analyze the progress of their tasks. And at the end of each Sprint there must be the so-called “ Retrospective ”, a meeting in which the entire team analyzes which tasks have been completed, which have not (and why).
This process serves to improve working methods
and become more efficient. scrum framework Measuring Results: How to Identify Your Quick Wins What investments in time and resources do you need? How long do you need to get started? What data can you collect? What is the expected return in terms of revenue or brand awareness? You need to ask yourself all these questions to identify your company’s quick wins , those actions that bring significant results with little effort.
This part of the process is based on the formulation of an implementation strategy that provides your company with a solid foundation on which to sustain and build tangible results . A good way to quickly identify your quick wins is through the Pareto Principle or the “80:20 rule”.
Brands are starting to require influencers to submit their accounts to this type of analysis before engaging with them in any way . Some are even adding this clause to contracts. Some brands are already taking steps toward greater transparency. At last year’s Cannes Film Festival , Keith Weed, Unilever’s chief marketing officer, announced that his company would stop working with influencers caught buying followers, and that it would no longer buy followers for its own brands either.
Look beyond the numbers Many brands use influencer numbers to gauge the reach they can provide, and this becomes the main criterion for choosing. But to decide whether to work with an influencer, you should also ask questions to establish if there is harmony with the values of the brand .
Econsultancy recommends asking the following questions : “Does the influencer represent the lifestyle characteristics that the brand represents? Is the influencer involved in activities and causes supported by the brand? Is there anything special that makes the influencer particularly qualified to be associated with the brand?” Let’s go back to the Olivia Jade case: her former partner, Sephora, offers tuition reimbursement as one of its employee benefits.
This rule states that 80% of the effects come from 20% of the causes. In a marketing context, this means that approximately 80% of your results should come from 20% of your investments. Of course, this is not a formula to be applied to the letter, but it should serve as a guide to determine the best strategies to obtain the desired results.
