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Big budget, big event, Big report ... For decades, the "big" culture has dominated the company's marketing decisions and marketing budgets. But "big" also means cumbersome, slow forward. Today, consumers may abandon your site in a single reading, so in marketing campaigns, big companies should learn from start-ups and adjust themselves flexibly. In our work, we have seen large marketing companies successfully shorten the development cycle of marketing activities by 50% because of the concept of start-up.
Follow these four rules to make a big company work faster.
1. Take "Testing and learning" seriously
Typically, marketers set clear financial goals for the impact of marketing campaigns, but tend to overlook the clear goal of understanding consumers. On the contrary, the performance of the start-up companies have been trying to explore the latest consumer deep psychology, and accordingly adjust their marketing strategy.
In order to make the budget for every marketing campaign worth the money, the first step is to design the "Deep consumer demand list," starting with what has been discovered, and then setting specific goals for upcoming campaigns, such as: How can we influence 18-25-year-olds to do something? Before you launch the event, look at which of the assumptions in the table will undergo testing.
Barbara Messing (Barbara Messing) is the chief marketing officer of the travel website TripAdvisor. Before investing in new services, she used "virtual" slogans to publicize the various web site features the company intends to launch. If only one user clicks on the banner, the page will show 404/"This page does not exist" information. But if you click on the slogan more than enough users, the company will start to develop this product. Compared to a single cost of up to 10,000 dollars in a group discussion and other traditional marketing programs, messing's program does not spend a penny company, but can let TripAdvisor quickly and accurately grasp the user wants the site function.
2, support the experimental spirit and "good plan"
If you can learn from your mistakes, there is nothing wrong with them. Graduated from the Y Combinator incubator, shoptiques is a fashion e-commerce start-up company founded by Orga Vedishava (Olga Vidisheva). Olga gives each employee 1000 dollars, allowing them to spend their free time on any creative marketing idea to encourage them to take risks. "It doesn't matter if you fail," she said, "the only requirement is that you have to take the time to analyze the data after your failure and share the lessons learned in your marketing campaign." "The start-up has benefited from this activity and the idea. In the event, an employee found that the Pinterest of the photo-sharing site brought valuable web traffic, so Shoptiques is considering taking the product interest as a key channel to keep in touch with its user base.
To encourage employees to take risks, companies must also support the idea of good enough. We have often seen marketers spend weeks trying to make their existing "good plans" a "perfect solution". Keep in mind that the extra time itself is also cost-aware. For example, on the Fab.com shopping site, 70% of the turnover was done via email. Each extra day to create a perfect email marketing campaign, rather than actually sending out emails, could cost the company a whopping 700,000 dollars in turnover.
3. Simplify the Index
Only if you can answer "how can I improve next time?" This issue, it makes sense to write a 25-page summary report for a marketing campaign. We've seen companies obsessed with numbers, conducting a few weeks of audits of marketing plans, but not achieving any action-oriented decisions. No need to be exhaustive, only a few indicators to focus on the effectiveness of marketing activities, and the future can be improved.
Recently, the rebate website Ebates parent company configured Marketing PS acquired pushpins the new mobile delivery company. The company focuses on two data: 1 The actual use of mobile apps in the company, and 2 of the time each user spends. "We are not distracted to consider short metrics like app downloads, but rather focus on the time each user uses, because this data tells us whether the new features we've developed really drive user activity," said CEO Jason Gurwin. ”
For example, a Fortune 500 consumer technology company recently made a thorough revision of the audit process of the company's marketing activities. Previously, the company's chief marketing officer needed to review more than 25 indicators at a weekly meeting, and now only five important indicators have been retained. And, in order for the Conference agenda to revolve around these five key indicators, the conference finally arranged for each marketing campaign an "input or a termination" ("2.4bn or Kill") link, which is to "put more resources" into promising projects and "terminate" projects with no prospects.
4, speed up the pace of work, do not increase the intensity of work
The launch of many marketing campaigns should take only a few days, not months. In large companies, cumbersome processes such as excessive approval procedures can lead to lengthy leading times. In this way, no matter how well the marketing campaign itself is designed, the company will not be able to repeat itself as a start-up, through rapid iterative iterations.
Changing from a small point of view can save a lot of time and eventually accelerate the pace of learning. Another consumer technology company is redesigning its marketing campaign process to shorten the development cycle from six weeks to three weeks. First, the company notes each step in the activity development and execution process, and then focuses on simple ways to simplify and accelerate the steps, such as introducing a Single-page strategy newsletter, so marketers must fill in before starting each marketing campaign. With this simple template, the company ensures that marketers clear their goals from the start and prevent them from writing lengthy strategic feeds. By shortening the development cycle of marketing activities to three weeks, companies can double their learning speed. It is estimated that the cost of marketing agencies will be cut by half due to reduced rework of creative programs.
Marketers must be more agile, more flexible, to achieve success, the solution is not to increase the intensity of work, the pursuit of perfection, but with the start-up of the thinking, willing to learn.
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