Frugal on Budget, High on ROI

2022-07-22 00:00:00
...

The outbreak of the Covid-19 pandemic has had a profound impact on the way consumers search for and purchase products and services. In uncertain times, marketing budgets are being carefully managed and spending is under scrutiny. Many businesses have been forced to re-evaluate their marketing strategies too.

In this new economy, experimenting with new ideas is a good way to generate revenue. Marketing heads should experiment with new ideas that are low-cost and have the potential to bring in new revenue. Jimmy Flores, CRO at ClickUp, has observed that such experiments can directly correlate with an increase in income.

Now is the time to try something new. Try new activities and platforms to test whether it is a worthwhile investment. By doing so, you'll see if there's a return on investment without a significant increase in spending. Such experiments put you in a better light as many times such bold moves are appreciated by customers.

The key to success is doing more with less. By being flexible and willing to experiment, marketers can continue to drive revenue and growth for their organizations. That's how they are able to ideate and innovate beyond traditionally accepted marketing activities.

The stressed budget is in a way opportunity for marketers to try out new things, get relatively easy buy-in from the management for experimentative marketing, and win customers' hearts through unprecedented and unexpected campaigns.

Marketers should think about frugal budget and high ROI campaigns that will take their brand to newer heights. Good marketers love challenges, always!

Mandar Thosar
Mandar Thosar
Marketing Consultant and Data Scientist
Mandar is a Growth consultant for SMBs. He helps SMBs achieve their business goals using growth hacking, inbound strategy, and digital marketing best practices. He works closely with the marketing teams to develop strategies, initiatives, programs, and tools to drive brand awareness, business development, and revenue opportunities.

Share on: