Marketing campaigns can be huge investments but they might not always give you the results you want. Competition in the modern world is fierce, especially when it comes to marketing, and smaller businesses may find themselves struggling to go head to head with established companies.
In fact, even bigger businesses can find it difficult to manage their strategies and budgets effectively. While marketing is far from easy, building the right kind of campaign is not impossible. The wealth of available techniques means that there is an approach that will fit any kind of business or market.
Still, there are some things you need to keep in mind in order to ensure that you are making the most out of your marketing budget. Here are just a few tips to make sure your marketing campaign is as effective and efficient as it can be:
Plan your campaign.
Having a good marketing strategy goes without saying, but not all campaigns are created equal. The standard is to simply put your promotional materials out there and wait for customers to come to you, but that’s far from the most effective use of your budget. If you want to get the best results for the least cost, then you might need to look into trigger marketing.
Trigger marketing is a more structured approach to marketing that times the release of your materials to specific points in a customer’s engagement cycle. This cycle includes discovery, first purchase, and perhaps even renewal.
Constructing aspects of your campaign that cater to each of these points ensures that you are able to successfully funnel potential customers into returning customers. The Direct Marketing Association of the UK found that triggered campaigns generate over 75 percent of email revenue. This makes it a more effective option than one-size-fits-all campaigns, creating the best value for your investment.
Explore your options.
It might be tempting to go the tried and tested route when it comes to marketing techniques, especially if you have a smaller budget. While there is certainly no pressure to pay for a big campaign if you do not have the means, going in the opposite direction and taking a cookie cutter approach is not the best use of your money either.
Having a smaller marketing budget does not mean you will not have access to effective techniques. It just means you need a little creativity.
For example, direct mail marketing is one of the most effective techniques around but it still requires a bit of investment. Part of that investment goes towards quality mailing lists, which take years to build up.
However, Triadex Services outlines how options like Every Door Direct Mail (EDDM) can cut down on costs while still maintaining the integrity of your campaign. These more affordable options do offer a few more restrictions but they can be a great avenue for smaller businesses to pursue. Plus, when used correctly, they can pull in the same results as more expensive techniques.
Analyze your data.
Another way you can make your campaigns more effective is by simply analyzing your data. It is hard to make good decisions without the right information and that is especially true for marketing campaigns.
Analyzing your data and results, whether from previous projects or ongoing ones, will help your company create informed decisions about your next steps. However, this is not as simple as reading through a page of results.
Data is gold in the digital age so learning how to analyze your marketing data effectively can spell the difference between success and failure. We have previously discussed this in our post on “The Easiest Way to Analyze Marketing Data,” the terms to understand and outlined questions to determine the path of your analysis. The goal is to eventually build a deep pool of data from which you can pull insights that can improve future campaigns.