Are Marketing Budgets Obsolete?
Marketing ROI Meter Changes the Rules Forever
72% of CEO’s say that marketers are always asking for more money, but can rarely explain how much incremental business this money will generate.
That statement may be been true a couple of years ago, but marketing has undergone a massive shift in the last 24 months. Not only should CEO’s know EXACTLY how every dollar on marketing is performing, they should have a darn good idea in advance how campaigns will perform.
It really comes down to this: either your marketing has a positive and predictable return on investment, in which case there is no reason to cap a marketing budget, or, the campaign will not work and you need to make some fixes prior to spending a penny.
The good news is there is now a FREE Marketing ROI Meter that will give you the answer to this question in a matter of minutes. To immediately access the ROI Meter: CLICK HERE.
For CEO’s and bean counters, the guessing game is over. For marketers, you now get the respect you deserve, the predictability you want and the comfort of knowing you are making the right decisions.
Let me explain
Digital marketing really comes down to three simple levers.
- Your ability to REACH and audience.
- Your ability to CONVERT that audience
- The PROFITABILITY of what you are selling
Many companies and marketers start with REACH. This is the last thing they should look at. In a nutshell, here is what you want to do.
- Start with PER UNIT ECONOMICS: I won’t go into great detail here, but this is where you figure out how much each customer is worth. If you are selling vacuums, that answer is likely the cost of the vacuum. If you are selling a consumable product there is likely to be more than one purchase. Figure out the lifetime value and ask accounting what your profit margin is.
- Then move to CONVERSION: There are either two or three layers of conversion. B2C is typically two layers (ad and site conversion). B2B is typically three layers (ad, site, lead). There is plenty of data to support what these conversion rates should typically be in any given industry.
- The last is REACH: This is simply a function of how much your digital ads cost and how much you want to spend
With the MarketSense ROI Meter, you will know in advance what to expect. Even more important, with a very small ad spend you will can validate your assumptions. When it comes to digital marketing, you either want to win or fail fast.
The MarketSense ROI Meter is available immediately. No sign ups â€“ just start using it. To check it out, go to www.marketsense.com/b2c/. If you would like a FREE Guide that goes into detail on how to optimize the three levers: CLICK HERE.
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