Not all companies have millionaire budgets that allow them to be in all channels and digital and offline media. But they do have the necessary information and tools at their fingertips to analyze and identify how they can achieve the maximum return on investment with a specific budget. In the last decade in the agency, while serving all kinds of clients, I realized that most companies have practically the same problems: Lack of planning , as surprising as it may seem, even large corporations suffer from it. Lack of knowledge and training in modern marketing and sales techniques. I could say that everything is summed up in those two problems and from there all the others, related to marketing and sales, are derived.
That is why I want to share with you 5 things that, as I have observed, are essential when establishing a marketing and sales plan that really generates positive results. Tips to invest your marketing budget well Calculate the CLV or Customer Lifetime Value The Customer Lifetime Value or Customer Lifetime Value is one of the metrics that is least used in companies and for phone database this reason common mistakes are made in marketing budgets and sales projections. Budgets are regularly planned and approved based on the economic flow of a certain period but not on what is intended to be achieved in the next or the value that is actually being created by generating a new client. Therefore, the first step so that investment decisions make sense for your strategy and therefore for the results you will obtain, you must know how much money a new client will generate for your company, not only in their first purchase but in all the time that they spend. said customer remains a customer.
By knowing how to calculate the CLV or customer lifetime value, you will also be able to determine how much money it would be convenient to invest to generate that economic flow. In the United States and Europe, the percentage that is usually invested in marketing ranges between 12-17% of the projected value for the next cycle, while in Latin America it is much lower and can range from 5 to 10%. There are two common forms: Consider the CLV at 100% as a base. In other words, if the value that is expected to be generated during the entire next cycle is one million, the appropriate thing to do would be to invest 100,000 pesos. Consider a part of the CLV, based on a specific period. If a client usually stays as such, buying from the company for 10 years, you can take as a base the total generated by all the clients created in a specific period of time, during their first year of life as clients of your company. In this case, the recommended investment percentages remain the same, what varies is the total base on which the percentage is drawn.
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