Optimizing marketing expenses is the interest of all analysts and directors in this department. But the solutions to achieve this objective are aimed at improving the efficiency of the strategies! not necessarily by betting on the cheapest ones! but those that will generate more income in the long term.
Guest Author
Jun 8! 20 | 10 min read
How to optimize marketing expenses
Reading time: 8 minutes
If you have ever come across advertisements on social media or redeemed discount coupons from your favorite brands! then you are within the target audience of someone’s marketing strategy . We agree that it sounds pretty easy! right?
However! in order for you to be able to perceive this effect! it is true that a rigorous process has been implemented beforehand.
If they fail to capture you as a potential customer! it would mean huge business costs! for this reason! it is essential that every strategy seeks to optimize its Marketing expenses.
This! in turn! is considered the cornerstone of all strategic
planning so that the income balance is heavier than the expenditure balance.
Great companies have suffered from poor planning! such as Coca-Cola with ” New Coke ” in 1985 or Colgate’s ” Beef Lasagna “. If you haven’t read about it! check out the links above to learn about these interesting stories.
Their failures meant losses estimated at mozambique email list 150000 contact leads millions of dollars and even inclusion in the well-known “Museum of Failure”! but do you know what is curious about these cases? That the implementation of both strategies had the intent of:
save on costs (Coca-Cola);
expand the market (Colgate).
The Marketing department’s mistake is really impressive! however! you shouldn’t be scared!
We have prepared this article specifically so that you can learn about the most common problems companies face with their marketing expenses! how to optimize them and generate greater business productivity.
Do you want to learn good practices to optimize the financial efficiency of a Marketing department? Then join us in this analysis!
What problems do companies usually have with their marketing expenses?
Digital or traditional marketing should be seen as an investment! not an expense .
Therefore! if you are generating more liabilities than assets! it means that there are mistakes that inhibit the attraction of new businesses! relationships are not being created! nor is brand development being allowed .
Below you will find three of the most common difficulties faced by companies that are unable to manage their marketing expenses in a balanced manner:
Not understanding the needs of the target audience
In this industry! the verb “believe” is not the same as “can.” We must understand each stage of the customer’s journey with our brand in order to launch initiatives that generate new business opportunities:
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If there is one mistake that can mean the automation in meta and google offers you opportunities as a marketer downfall of the entire Digital Marketing strategy! it is the lack of measurement of results. Without the application of metrics we will be condemning the entire strategy that has been executed.
Below we will explain the difficulties that this generates:
we will not have full certainty of the efficiency of our actions;
It will be impossible to read consumer behavior! their current and future preferences;
We will not be able to measure user engagement with our brand! much less retain them;
The number of queries! downloads! questions and possible new potential customers will remain a constant unknown.
Not having an updated summary of actions! consequences and statistics will mean that we will not be able to meet the general objective of our strategy! we will lose the opportunity within the market and! if that were not enough! we will unnecessarily increase expenses.
Measuring results is essential cg leads if we want to optimize marketing expenses!