The State Of Marketing

Brands invest trillions in marketing every year expecting to see returns. The entire media ecosystem depends on that investment. But hoping isn’t a strategy. Marketers must prove the impact of their work - a harder mission each year as channels fragment and walled gardens grow.?

Creators are dominating as channels to connect with niche audiences, short-form video continues to boom, and marketers are getting more efficient with their workflows and processes.?

Marketing ROI

Marketing ROI measurements relate to one of three time periods, each with very different objectives

? Before investment (decision): to decide whether to invest, or which marketing investment to make

? During investment: to decide whether or not to continue or how to improve the impact

? After investment/accountability: to ultimately learn the ROI of an investment

Budget vs ROI

Business owners often don’t get the results they want from their initiatives because they’re not asking the right questions. They focus on budget rather than getting an accurate picture of the investment required to generate a positive ROI over an amount of time.

A wise marketer once said, “I have unlimited budget for marketing that works.”

The ‘finding out what works’ part that is the key to running a competitive digital marketing campaign. With a multitude of channels and marketing campaigns with areas of overlap, how can marketers know for sure which channel is generating returns??

Attribution modelling not measures marketing channel effectiveness, but also provides valuable information necessary to justify marketing budgets, optimise digital spends, and increase ROI.?

CMO Challenges

The average CMO tenure is 43 months, the shortest of any C-suite position. CMO tenure is falling but the demand placed on CMOs is rising as new technologies and methods require a broader skill set and more technical investment.

To understand how to allocate budget

Ask yourself 3 questions:

? How much spending does it take to be competitive?

? How does this vary by geography?

? How do brands planned spend levels compare to the optimal spend levels for the media channel?

The takeaways from our research

Media spend needs to be between 1% and 9% of revenue to stay competitive

Overspending isn’t as problematic as underspending

Underspending is rampant!

Why you need outbound marketing

Before the invention of the web - the world of sales and marketing was simple.?

No it feels like there are too many options to - but every good marketeer know

1) Content is king

2) Data is queen

Without great content, we can’t attract new and existing business. Without data that allows us to track, test and tweak, we are unable to see the wood for the trees.

Outbound marketing involves proactively reaching out to consumers to get them interested your service. Inbound marketing focuses on creating and distributing content that draws people into your website.

Unfortunately, outbound marketing has a bit of a bad reputation. That’s because some of its channels are considered a nuisance eg cold calls and direct mail.

At ProspectFly we do things differently - if you’re looking to skyrocket your growth…

Contact us