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Top 5 ways to maximize marketing budget returns


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Amid all the restrictions, restrictions, deprecations, and new data privacy laws being put in place for marketers, there’s been a lot of complexity that has been managed collectively to reduce the fun elements of marketing. growth marketing. These complaints are shared by development teams of almost every industry, whether it’s PLG, B2B, DTC, or even registered trademarks. However, despite volatile markets and limited budgets, growth groups are expected to produce good results going forward.

This expectation, which is mainly derived from the fact that investors expect a large return on investment, creates an unpleasant paradoxical situation for development teams. After all, customer acquisition costs are growing and spending needs to be managed — all while ensuring retention rates and an upward trajectory of profitability. That’s a big question, especially with a tight marketing budget.

In an ideal world, implementing multiple growth rings would be enough to keep the engines running with minimal effort at the back end. In fact, growth teams need to be extremely diligent in the methods they implement to achieve optimal returns for their marketing budgets.

Here are five tactics that data-driven growth teams should consider to increase the impact of their campaigns.

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Recent and upcoming regulations are limiting advertisers’ ability to collect and process data for internal use. That’s particularly detrimental, as powerful data is needed to build, match, and expand audiences in future ad campaigns.

This places great importance on first party data, which is GDPR-compliant in nature and is very important in today’s privacy environment. Based on this data, personalized experiences and ads can be delivered to customers and potential customers.

Then there are lateral data such as survey results, allowing brands to offer greater personalization. Campaigns can be based on customer preferences. I especially favor third-party data because it provides brands with the insights they need to gauge the lifetime value of their customers. In turn, this can be used to attract more customers of similar lifetime value.

The sky is the limit when that data is paired with a Artificial intelligence An AI-driven prediction platform, which can use data-driven models to cast an even wider net in attracting loyal users who are more likely to make a long-term purchase than.

2. Reduce customer acquisition costs within budget

The cost of customer acquisition has increased dramatically in recent years, and there is no quick and easy way to immediately reduce that cost, at least not yet. However, there are some indirect workarounds that reduce those costs while increasing profits. These solutions include focusing on customer retention; introduce the freemium option; and use internal data to promote predictive marketing. Together these actions will save development and marketing teams a lot in terms of budgets, and the data extracted from that will enable teams to make more informed decisions.

3. If possible and appropriate, consider always-on advertising

For B2B, especially B2B SaaS companies, it is important to rotate between advertising campaigns. On that note, the marketing and development teams behind B2B SaaS companies should dedicate a portion of their paid media budgets to always-on and active ads to generate future demand. This will help ensure the company is on the short list of potential targets when the time is right for decision makers.

4. Check out newer channels

A good way to gauge ad technology capabilities is to extend your reach beyond conventional channels by expanding into newer/less used channels like TikTok or Snapchat. These channels go beyond dance challenges and cute animal content: Brands that can benefit from creating/sharing both educational and user-generated content should value these channels .

Eg, Canva notably using TikTok to provide instructions on how to use certain features, helping users get the most out of the platform. Brands also use TikTok to provide quick demos or to deliver trailers.

5. Stop making important marketing decisions and start ‘respecting the future’

I often say “future“ is rapidly becoming the standard in growth marketing, and this is largely because growth teams are realizing the importance of making smarter data-driven decisions to ensure profitability. Major campaign decisions can no longer be made in retrospect, as the final decisions are made based on proxy metrics and rules of thumb.

Futurespect, as the name implies, requires that decisions be made based on future outcomes in a future-proofed manner. The best way to deal with this is to put customer lifetime value data first and use it to get super-specific and accurate insights into metrics like conversion rates. forecast change and ROAS revenue.

Armed with these insights, a wide range of marketing decisions can be made; This may include bid adjustments and budget allocations, for example. With predictive AI, additional decisions about projected future campaigns can be made based on predictions that can look ahead for months or even years.

Together these insights will help teams get the most out of their marketing budgets with better long-term results leading to higher profits. Gone are the days of relying on intuition, luck, and frivolous spending on marketing budgets. The only way to get ahead in the marketing industry is through efficiency, data-driven accuracy, and out-of-the-box thinking, thankfully each of which is possible with the help of leading companies. tools and technology powered by AI.

Ido Wiesenberg is Co-Founder and CEO at Voyantis

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