“Show me your budget; I’ll show you the problem with your strategy,” said Flint McGlaughlin, CEO and Managing Director, MECLABS Institute.
The typical marketing budget process is broken. In this session, Flint reveals a new heuristic for achieving more performance with less investment. He challenges the classic approach to budgeting, identifying serious errors in our rationale, and provides a methodical system for prioritization. Whether you’re a small entrepreneur or the CMO of an enterprise, this series can help you optimize your marketing strategy, budget, and planning.
In this series, you will learn:
• How reversing the direction of your spend can double its impact
• How to use your value proposition as a force multiplier (maximizing the effectiveness of your media spend)
• How to pay for a web project with “found money” before you invest a dollar in development
• Why the structure of your agency and most vendor relationships is optimized for their gain and not yours
• Why we spend too much too fast on advertising, and how to reinvest the money to produce a stronger ROI
• Why thinking in terms of fiscal year instead of conversion cycle is blurring the difference between investment and expense
• Why you need to leverage as much customer psychology in your budget presentation as you do on your offer page (how to win more money)
Here are some key points in the video:
06:27 Better versus More
12:27 The Marketing Priority Heuristic (thinking tool) explained
19:40 Optimize your spend for mathematical impact
23:40 Mathematical demonstration of how to maximize revenue by reprioritizing your expenditures
40:29 How to use your value proposition as a force multiplier
45:47 How much to allocate to media and testing
48:00 Summary of an optimized Spend sequence
48:50 Why the structure of your agency and most vendor relationships is optimized for their gain and not yours
49:29 Case study – Business software
Learn more from Flint with a MECLABS online marketing course.
Courses include certification in
• Online Testing
• Value Proposition Development
• Landing Page Optimization
• Email Messaging Optimization
https://MECLABS.com/certification
