Managing the performance of your marketing is just as important as planning and executing it.
However, for many marketing managers, measuring ROI is still a big challenge, which sometimes results in having a hard time negotiating the marketing budget.
This is a shame because – as we marketers know – every extra pound is worth having!
Let’s start with ourselves then. What can we as marketers do to have more money? Well, we can either spend less or make more.
- How do I spend less?
Spend less money: Use marketing analytics that measure how much money you spend on every campaign and on every channel. That means you’ll be able to extract what works best on which customers and where – so you won’t waste resources stabbing in dark.
Spend less time: Also, for lead optimisation, use the lead scoring function that will tell you how ready your leads are and how much value for your company they have. The better you define your scoring criteria, the more you’ll know which leads are not worth the effort and which still need some nurturing.
- How do I make more?
Spend your money here: You can spend the money you save in many ways – experimenting with new campaigns or reinvesting in the best performing ones. That means the more money you bring in, the more money you bring in.
Spend your time here: Dedicate your time and effort to those leads that are sales-ready and carry high value. Your sales reps will close deals sooner because they will know who to target and how, while your customers will enjoy talking to your company because you’ll always be relevant and will take care of those who appreciate it the most.