As a marketer’s contributions to the wider business objectives and pipeline come under scrutiny, every penny spent on generating leads and other marketing activities must be directly attributed to results.
With shifting trends and increasing competition, it has now become more essential than ever to invest in B2B lead generation campaigns with an effective mix of direct and digital marketing channels to optimise results. With the company’s bottom line in question, stretching the marketing budget to spend to produce maximum results whilst delivering ROI is a key driver for all marketing teams.
Consider these 8 ways you could maximise your marketing budget:
1. Always Analyse for Efficiency and Effectiveness
“Half the money I spend on advertising is wasted; the trouble is I don't know which half." John Wanamaker (1838-1922)
While this may have held true 100 years ago, the emergence of digital marketing as a platform and greater access to analytical tools means that nothing could be further from the truth. With different channel producing different results, the distinction between the most efficient approach and the most effective approach is key. By keeping track of your marketing spend and which activities are producing which results over what time period, you are quickly able to calculate a cost-per-lead. Knowing which channels produce the best results over the shortest time period allows you to best maximise your marketing budget.
2. Embrace the Technology
Technology is advancing and just like everywhere else, it has altered the way in which we view things. Marketing automation, analytical tools and reporting dashboards have each played a revolutionary role in the design, delivery and monitoring of a modern marketing campaign. While some require an initial investment, they provide marketers with the ability to increase the output capabilities of sophisticated campaigns whilst reducing manual tasks and effort, saving you time and money in the long run.
3. Audit your Content and Repurpose
Content is a key factor in any successful lead generation campaign, but that doesn’t mean devoting the entire budget to its creation. A content audit is a great way to quickly understand exactly what content you have, who it was aimed at and how it can be repurposed into something new. Repurposing content takes less effort than starting from scratch and doesn’t deplete your marketing budget at such a rate.
4. Optimise your Website to Prevent Leakage
As your primary lead generation tool, your website should be optimised to attract, convert and close potential customers. Turning your website into a power hub of SEO, content, calls-to-action, landing pages, and data capture forms is the best way to entice visitors onto your site and spark their interest, turning them into marketing qualified leads.
5. Test and Optimise
Ideally every single one of our marketing efforts would be perfect every single time, but the likelihood of it happening is slim. Maximising budget spend relies on taking the information you know about your buyer personas, combining it with previous results and manipulating it to produce even better results. A/B testing is a great way to test the waters and understand which approaches will produce the best results without going all-in. By determining which combination of direct marketing & digital marketing channels will resonate most with your audience you can identify the channels most deserving of marketing budget allocation.
6. Create a Cohesive Approach
Combining direct & digital marketing channels is one of the fastest ways to generate leads for today and opportunities for tomorrow – delivering a constantly flowing pipeline. But if marketing messages become mixed or incomplete, they are often unable to gain the traction needed to convert prospects into leads. This means that the resource and effort that went into creating them can quickly become wasted. Your website, inside sales team, blog, social media and content creation efforts should be interwoven to create a complete experience for your prospects.
7. Consider an Outsourced Partner
By choosing an external partner to deliver some of your lead generation efforts, you can incorporate their skills and experiences into your own efforts. As direct and digital lead generation efforts require distinct skill sets and knowledge it is essential that your chosen partner has the experience to support you in all the areas you require, working with you to create successful campaigns. By looking externally for these capabilities, you can produce the results you need without overstretching in-house resource capabilities and making the best use of your available budget.
8. Leverage Existing Success
Research shows that buyers often find the words of peers much more persuasive than just the marketing messages of an organisation itself, so consider ways you could use your current customers to generate leads. Creating case studies, customer referral programs and enlisting brand advocates are just a few of the many ways to leverage your existing successes. An effective use of marketing budget that allows you to capitalise on previous marketing spend and effort.
Contributing to the wider business objectives and creating a long-lasting pipeline are the ultimate goals of any marketing team and to achieve them, the focus must be placed on integrated lead generation campaigns, which capitalise on direct and digital marketing channels. Achieving results with a limited budget means that marketers must consider they best ways to maximise their marketing budget spend whilst delivering their lead generation campaigns.
Ready to get the most out of your marketing budget?
Direct and Digital Marketing: The Key to Optimising B2B Lead Generation
In this eBook you will learn:
- how to reach your target market at each stage of the buyer's journey
- how to integrate direct marketing and digital marketing channels to generate more leads
- how to demonstrate tangible ROI from marketing activities