Stop Wasting Your Advertising Spend And Do More With Less.
Efficiency, my friend.
Feel like you're throwing your hard-earned Quan down the sink on marketing that just ain't delivering results? You're not alone my friend. A recent survey showed that a whopping 26%—that’s nearly a QUARTER—of all marketing budgets are wasted on channels, strategies and tactics that just don’t cut the mustard.
Activities that just aren’t showing a return. But don’t stress. We’ve got you covered.
Improving the ROI on your marketing spend should be your number one priority; that’s a no-brainer. Spending money without getting a viable return is a surefire way to flush money down the ‘loo. After all, marketing is supposed to create value and grow profit, not put holes and inefficiencies in your budget. So, what can you do to ensure you're getting bang for your buck?
Many service-based business owners we work with have seen great success by reviewing their activities and re-allocating their budget strategically. Take from Peter—who’s spending the money on beers (and promotional gimmicks)—and give it to Paul who’s nailing a Facebook Ads campaign with 10:1 ROI.
A word of caution; before making any drastic changes, I always recommend conducting a good ol' fashioned audit of your business. You want to be 100% sure of what’s going on before making big decisions. Running an audit also means you’ve got a detailed record of exactly where you started, so you can see if your changes worked. Still on the quest for better return on your marketing spend?
Here are 7 ways to stop wasting your marketing budget:
I hope this list gets your brains ticking in 2023. If you want to know more on any of the points above, or have any Q’s—don't hesitate to get in touch! If you want to discuss your business’s growth in 2023, we’re here and ready whenever you need.