'Due to economic headwinds' 🤯
I'm fed up of saying it, you're fed up of hearing it and yet here we are:Still having a terrible old time trying to get the right budget in the right place at the right time to meet the right targets
But no matter how nicely you ask or how well you perform, you're unlikely to get more investment for your marketing work for a while
Still there are two things I've seen be incredibly effective in making the budget stretch further:
1. Improving the messaging
Companies who acted quickly to dial their messaging in in response to 'tough economic times' are already doing well
You can see this by looking at Pendo.io who have been dominating their market with lack focused messaging recently
I can tell you from my own campaigns that adjusting the messaging has paid dividends
How do you make this happen?
You ask your customers: how has the economy changed your perception of the problems that our product solves for you?
Very quickly, you'll hear the same 4-5 messages repeated.
Take that and turn it into ideas - messages - copy - CUSTOMERS!
2. Improving the offer
I used to think of making adjustments to an offer as kind of a tacky approach
People see right through that stuff, right?'
But that's actually a cynical worldview
Every ask is a value exchange. If I ask you to book a 30 minute call:
Low value offer – Get 30 minutes of uninterrupted pitching from me
High value offer – Find 20-40% wasted budget in 30 minutes
See how different those are?
How do you move from low value to high value? Take what you learnt about your customer's problems and ask of your own 'offer': 'does this add value to my customer?'
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If you do this correctly, you'll see your acquisition costs dramatically decreasing and your conversion rates increasing across the board
Leading indicators before that happens are likely to be increased engagement and increased reach. See those? You're probably on your way.
