What's driving your Mktng?
Real grit, isn't in and making that one transactional 'hello'... it's in ensuring that the consumer remembers the experience, the product... & calls you back for more to buy next time!
In one of my recent interactions, I was bombarded with one presumption,... how can we reduce on our CAC and how can we solve scale problem for performance?
Marketing it seems, is merely fishing the existing pond. Now the pond has finite fish. We are bound to catch less and less as the time progresses. Unless you are committed to work on increasing the size of pond, cost per fish is for sure going to get out of control. I don't think that's a *scale* problem... that's a *strategic* problem!
So let me ask you this -- What drives your marketing?
With nascent budgets, brand creation might be a heady tasks; I give you that. But there's brand in everything we do. How we speak, what we speak, creative, copy, placements, navigation ease, single click check outs, priority delivery, buying experience, associations, partnerships and above all the product itself.
"Paid ads are NOT the best for growth... Retention metrics are"
Curate those mini experiences, layer content on top, get creative and get going... fail a 1000 times but wait for that beautiful victory. In a world restricted by VC money, paid ads are not the best for growth! Retention metrics are. Firms with good retention curves will survive & thrive.
Off course, unless you are willing to widen the pond...
Alliances and Partner Marketing
3 年Well, said. And, I loved the analogy.
Marketing | Digital, Brand, Growth | Startups
3 年Agree Aditi Anand . Well put. Except the last part. For branding to be able to lift organic baselines you need threshold achievement. Which in turn depends on budget (or SOV mostly). May not be true for all cases ??
Global Marketing Leader | 17+ years of experience in building brands & scaling businesses | Ex: L'Oréal, Coca-Cola, Nokia, Walmart & Airtel
3 年Great perspective, Amit. I love the analogy you have used. It is a very simple way to put it. CAC spirals out of control when you only do Performance Marketing. It is crucial to do full-funnel marketing and continuously nurture the top of the funnel to increase Brand Warm audience. There are multiple benefits of Brand Building. To name a few, 1. Brands can command a premium; products can't. 2. Brands enjoy higher loyalty and lower churn than generic products. 3. Brand evangelists do free publicity and create goodwill with other potential customers, generating sales at no additional cost. Contrary to popular belief, Brand Marketing efforts can be measured. If the organic run rate of the product/ service increases after a Brand Campaign, then Brand Marketing has worked.