Podcast Episode 23: A Deep Dive Into ‘See’ State
What Our Ancestors Can Teach Us About Marketing
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…]
How To Tell If Your Marketing Program Needs New Creative
Iterative marketers may not use big campaigns to reach an audience — but that doesn’t mean our marketing programs are set-and-forget. In fact, quite the opposite is true. Marketing programs run indefinitely, so strategic changes are crucial for maintaining relevance.
But without a campaign’s traditional start and end dates, we are faced with with recurring questions: How do we know when it is time to change our ad creative? Should we ever consider launching an entirely new marketing program? [Read more…]
Stop Wasting Resources: Kill Your Underperforming Marketing Tactics Now
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…]
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