Your Marketing Budget is About to Get Slashed. Are You Prepared?
Memo to the Marketing Department:
Credit is tightening; at this very moment, your CFO is considering how best to preserve cash and cutting your advertising budget is looking very tempting. (Very, very tempting.)
Suddenly, your 1% eCommerce conversion rate isn’t going to cut it nor is your 5% lead capture rate because you know your CFO will expect you to maintain your target results in… (insert here whatever it is that you are responsible for: lead generation; eCommerce sales; bookings; etc)
Are you prepared?
With a smaller ad budget to drive traffic to the website, you must have a plan in place to get more conversions on your web pages so you can in fact keep generating the same results.
The answer –at least part of it — is probably right in front of you: the 99% of web visitors who did not buy contain a significant percentage of buyers to whom you did not communicate your value proposition properly. Now you need to:
1. Refocus your message; make it sharper, with a stronger call-to-action. Solve a problem rather than just hint at a solution
2. Rethink your audience; make sure your new target market has the problem you solve
3. Test different approached on your web pages. One size fits all won’t do it, as there are many segments within your target market and you need to speak to them individually and meaningfully.
