It’s here. The dreaded 2017 budgeting process…ugh.
The marketing budget process is stressful and complicated, and there are a lot of moving parts. You have to work backward based on revenue goals, estimate spend for your programs, and determine which new technologies to implement and which ones to kick to the curb. And that is just the beginning.
But, working backward to determine what programs you should run is not an exact science. How many programs do you need to run to get X number of leads? How do you really know that the paid email program you are spending $7500 on will provide you with 500 new leads? And of those names, how many of them are actually a great fit for your business? This makes budgeting a huge challenge.
But, what if you could be more targeted and optimized with your program spend? What if you knew you were basing your ROI estimates on actual data not just guesses? Predictive marketing can make this a reality. And if you want to learn even more about saving money—and I mean, who doesn’t—download our new ebook, 2017 Planning: How to Budget for Predictive Marketing.
Replacing Pricey, Low Quality Programs with Predictive
Let’s break it down. One of the key functionalities of a predictive marketing platform is predictive demand generation. Basically, predictive demand generation helps you find net-new accounts and contacts to target with your marketing efforts. Leveraging data and machine learning enables you to do much more than look for a needle in a haystack—it enables you to target with more confidence.
Think about it—how much money do you spend generating leads with outbound programs? Maybe you spend $20,000 on a content syndication program or paid email send. What about that $60,000 you were planning on spending for teleprospecting? Or that $7,500 you have allotted for list purchases? And you have no idea whether or not the leads you get from these programs are a good fit for your business.
Now imagine you can slash all of these high cost, low yield programs–$87,500 of them to be exact.
Why can you replace all of these programs? It’s simple, with predictive demand generation, you can fill your funnel with new accounts that are a great fit for your company and backed by data. As a result, you don’t need to waste your budget on unreliable lead acquisition items like list purchases, content syndication, paid emails, and teleprospecting. Instead, with predictive demand generation, you can spend your time and resources on actually building relationships with the right accounts and moving them through your sales funnel.
Implementing predictive marketing helps you focus, optimize, and ultimately replace low yield, high-cost program spend—and who doesn’t want to feel more secure once budget season comes around? Want to learn more about how to save money with predictive marketing? Download our ebook, 2017 Planning: How to Budget for Predictive Marketing, now!