Many firms have decided if they want a bit drastic to cut digital marketing budgets. Data found in an article shows that the figures fell 6.4% from company revenue this year.
There is something that has many alarmed is that the level of investment of the marketing budget for B2B and B2C fell below 10% for the first time.
What’s going on? Why have executives decided to make decisions about decreasing the marketing budget?
A consequence of covid-19? Is it a trend, or are there some who are doing something different in the new scenario?
In the article, Tim Clevenger, the vice president of marketing for Cambia Health Solutions Inc., indicates that they kept the budget allocated for marketing underperformance marketing, assigning campaigns that generate actions directly to the consumer.
Focused on this strategy and in responding to the constant pressure that B2B and B2C marketing specialists are subjected to, we want to show 3 ways to strengthen the value of your brand in search of improving competitiveness and ROI.
3 THINGS THAT WILL HELP YOU ADD VALUE TO YOUR BRAND SUPPORTED BY MARKETING RESULTS
- Innovate with your internal collaboration team: As marketing specialists applying different strategies guarantees different results. Marketing support should be applied where there are weaknesses. Using marketing strategies can drive the success of a company, even to show ROI.
In addition, internal collaboration can make the different departments involved grow in innovation and results.
- Create a suitable platform that allows you to increase your ROI: Many automation tools can make your ROI increase considerably. One, in particular, is the use of CRMs, which would enable communicative campaigns to be carried out at very effective levels, and not only this, but there are others such as those that allow obtaining valuable data for decision-making such as Hubspot and SEMrush.
With the correct information and expert analysts, company management can move toward growth with marketing math.
- Open the mind for learning: If there is a common difficulty for companies, it opens up new work practices options. Usually, a B2B marketing strategist is dedicated to applying the strategies known for this market, the same with the B2C ones. But what if the ones on the other side work? Would you use them?
This is what this point is about, open your mind, observe. If you are a B2B and you notice that something works with a B2C, try it, open your mind.
If you do not want to be part of the statistics of a decrease in the budget of your marketing department, start giving results by giving value to your company through results marketing. Whether you are a B2B or a B2C, you need to provide growth value with strategies ROI and stay competitive.