As marketers, we often struggle to communicate our impact on our organization. We struggle because we are so entrenched in the day-to-day tactics and overall strategy that we have a hard time seeing the bigger picture. And we struggle because, at the end of the day, our organization seems to only care about revenue.
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It is a fact: it is more expensive to acquire a new customer than it is to drive additional revenue from known customers. While statistics range from 3 to 30 times more expensive, depending on the source, the message is clear: chasing potentials over courting current customers is simply not cost effective.

Despite this, 63% of marketers believe that customer acquisition is the most important goal for their advertising. Organizations are so focused on driving revenue from new customers and then moving on to the next that they miss opportunities to drive further revenue from these prospects-turned-customers in the future. [Read more…]

We presented the data, and it didn’t look good. Engagements were down and cost per engagement was up. After three months of running the creative, we had exhausted the audience pool. There was no one new left to talk to and we recommended the client pause the program until new creative was ready.

His response? “Keep it running. Let’s see what happens.”

We knew what would happen. All of the data pointed to the same outcome: he was going to throw away good money running creative that had very little chance of leading to a conversion. Money that could have been more wisely spent somewhere else. [Read more…]

Today’s customers demand personalized experiences that are delivered to them when they want it, and in the way they want to consume it. To deliver on this expectation, we must create content that shows we have a deep understanding of who our audience is and what their needs are. This requires content that is targeted to a specific persona at a specific moment in their journey state. [Read more…]