Stop with fixed marketing budgets, take the brake off your return If you work according to the principle that every dollar invested in marketing must contribute to the financial company objectives at the bottom of the line, then it does not make sense to work with a fixed marketing budget. Why would you do that as a company? It creates a semblance of control. Uncapping budgets. If the relationship between investments and returns can be clearly demonstrated, the investments in marketing should in fact simply form a ‘variable cost item’ within the P&L and budget. As long as it contributes to the realization of the company’s objectives, this item should be able to continue to grow indefinitely. 18. Do not send on a fixed CPA, CPS or CPL Steering on the wrong KPIs can in some cases turn out to be even worse than working without KPIs.
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If you measure a lot, that does not mean that the correct KPIs are also being steered. In many cases we still focus on KPIs that do not always match the desired effects for the entire company. Many advertisers steer on a fixed CPA, CPS or CPL. Not logical, because in those cases the focus is on the efficiency of individual (trans)actions instead of the desired results at the bottom. Just like working with Latvia WhatsApp Number List fixed marketing budgets, working with a fixed CPA, CPS or CPL can put a huge brake on your growth. The auction systems of companies such as Google and Facebook reinforce that effect. The difference between bidding a CPA of 8 or 9 euros can in some cases result in significant differences in volume. The variant of 9 euros can simply provide such more volume that the absolute profit at the bottom of the line also grows strongly. All online marketing activities should be able to positively influence these objectives.
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Marketers can then search for the right optimum with countless (bidding) experiments. 19. Send people by result, not by presence Companies should stop steering the time someone arrives at the office. KPI that directly influences the bottom line? Is that what people are paid for? Is that something that makes customers happy? It is not directly relevant and also gives the wrong signal. In the end it is not about presence, but the output is central. Without a culture of trust, many things will not work in practice. Trust is the foundation of success. These individual KPIs are always related to the total.
