Is your marketing strategy broken? And if it is, how can it be fixed? Watch here as my colleague, Ryan Tognazzini, Principal at SBI, and I discuss marketing strategy. We’ll help you first determine if your strategy is broken, and what to do to fix it.
We start the show by defining marketing strategy. What is it, what does it do, and what does it mean to use one? We’ll explain why you need an operating plan to determine what the marketing department will do. And how to answer questions like why are you doing it, who is responsible, and when is it due? We then introduce the concept of customer acquisition cost (CAC) and customer lifetime value (CLTV), and explain how it applies to your marketing strategy.
In the next segment we focus on specific examples of CAC and CLTV. We’ll explain the impact it can have on your organization, specifically the marketing team. And how it affects your ability to hit your revenue growth objectives. We’ll also discuss the revenue growth methodology, and the importance of strategic alignment between functions. We’ll wrap up the show by explaining the steps you should take to develop and execute your marketing strategy.
Your marketing team typically spends around 5% of the revenues in an average B2B company. If those dollars aren’t used to drive revenues, that’s a big price tag for no results. Watch here to understand how to have the right marketing plan to get the results you need.