When an economic downturn strikes, what’s the first thing you do?
Eliminate wasteful spending.
As marketers, we know all too well that our budgets are the first to get cut. Marketing is notoriously undervalued, even though research shows that companies who didn’t cut their marketing spend during a recession actually bounced back more strongly than those who did.
However, this doesn’t change the fact that we all have a target on our backs, no matter our talent or seniority. And now that we’ve officially entered a bear market, uncertainties will only continue to grow. Regardless of your budget or headcount, it’s essential now more than ever to ensure no ad dollar is wasted by optimizing the ad-to-website experience.
Here are four ways you can make the most of your marketing budget while driving meaningful results for your business.
No matter how hard you work to maximize your marketing spend, there will always be at least one campaign or channel that just isn’t giving you the most bang for your buck. In fact, studies show that 26% of marketing budgets are wasted on ineffective channels and strategies.
While this is a common problem among marketers, you need to be particularly aggressive about maximizing ad spend in a period of economic uncertainty. Ensuring you’re not wasting a single ad dollar, impression, or website visit should be your north star right now. In order to do this, you need to review your current advertising efforts to understand what’s working and what’s not.
As you review your ads, ask yourself these questions:
Being agile is one of the best qualities you can have as a marketer in an economic downturn, so use this as an opportunity to prove your value. If you’re going to make every ad dollar count, you need to test your messaging before launch, optimize your creative throughout, and constantly optimize your website and landing pages toward conversions throughout the entire lifecycle of each campaign.
Whether you choose to A/B test, use rules, or choose Continuous Conversion™ to ‘always be testing’ it can take a lot of time and resources you might not have. Consider how AI and machine learning can help you optimize your ads and landing pages to increase lift all while delivering a seamless ad-to-website brand experience to your customer.
All too often we spend so much time perfecting our ad copy or visuals that we forget about the post-click portion of the customer journey. But when we take the time to optimize the entire customer experience from first touch to last, that’s when we see big results.
It’s no secret that customer experience has become one of the most important components of a purchase decision for B2B and ecommerce customers alike. Eighty percent of customers say they are more likely to purchase from a brand that offers a personalized experience. And while personalizing your ads is important (and is appealing to 90% of customers), it is just as essential to optimize and personalize all of the touch points that come after.
Here are a couple of ways you can create a seamless customer experience to boost campaign conversions and customer loyalty:
We know these first three tasks are no small feat, which is why it’s essential to lean on automation to continuously optimize your ad spend, landing pages, and customer experience.
Automation is key to doing more with less and driving greater efficiencies at scale. When set up properly, your good ideas combined with automation are like a superpower. It saves you valuable time on tedious or complex tasks so you can put more effort into what you do best: coming up with great ideas to connect with your audience and deliver them the best experience.
While automation can’t do everything for you, here are a few things it can help you with:
Remember, when you test you cannot fail, machine learning is your friend, and nothing is set on rinse and repeat. When you take an iterative approach to your digital advertising, you’ll look like a marketing hero.
For even more tips to optimize your ads and landing pages, read this blog.
This article originally appeared on MarTech.