No Barbie Budget? 5 Tips for Cost-Effective Marketing Projects
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$150 million. That was the budget the marketing team received for the new Barbie movie. Soon, countless articles appeared with tips on what marketers can learn from Barbie’s marketing strategy. There are certainly valuable insights to be gained from such campaigns. Like the principle that a strong brand increases demand. Brand generates demand (it sounds a bit nicer in English). But on the other hand, with such a large budget, almost anyone can be successful. Do you have a more limited budget? I share 5 tips for cost-efficient marketing projects to achieve your goals.
The reality is, however, that not every company has the luxury of a multi-million dollar budget. For many B2B companies, marketing budgets have been reduced over the past year. In some cases, they may have remained stable, but they certainly have not increased. This has led to a challenge for marketing teams to achieve effective results with limited resources. Because targets, well, they do go up of course. Time for the age-old art of ‘ do more with less’ .
5 Cost-Effective Marketing Projects to Get Started With
Luckily, there are plenty of cost-effective marketing projects you can get started on to achieve your goals without a Barbie budget, or even less than 0.1% of one. Here are a few ideas you can get started on right away:
1. Adjustments to your current messaging
The world is constantly changing, and with it the needs and expectations of your (potential) customers. It is essential to regularly evaluate your marketing message. And to adapt it to the current economic situation and changing customer needs. Your product or service undoubtedly adds value in various areas. But which values should you emphasize most at this moment?
If your product or service is more cost-efficient than your competitors, nigerian email list 2.6 million contact leads you can test it in economically challenging times to make it leading in your messaging. Of course, you don’t have to change it overnight, but test it first during a few sales calls or email campaigns to potential customers. For organizations that have a bit more budget to spend, there are also solutions to test your messaging, with solutions such as Wynter , UserTesting , or Userfeel .
2. ABM campaigns – land and expand
Account-Based Marketing (ABM) is a marketing strategy at rock content we announce the raising of usd$ 30m in series b where you focus on specific accounts or customers. In this example I would like to explain the land and expand variant, where you focus on expanding current customers.
Suppose you focus on organizations in the hospitality sector. Here, many hotels are affiliated with a chain. For example, do you have one or a few hotels within this chain as a successful customer? Then you can go to other organizations within the chain with this success story and show how you already help other hotels to be successful. For this, you can create so-called ABM content, where you create personalized content.