Paid Media with Limited Resources
Hi, everyone. I’m Caroline Elston. The Director of Paid Media here at Element
Three. Today, I’m going to be talking about how to approach paid media when you have a limited budget. So let’s say that your marketing budget got cut or your experiencing some economic hard times. How can we use media dollars in a strategic way to meet your goals?
So a couple of things that we consider here. First is we want to make sure that our data is clean. That is number one goal, is making sure that everything we’re doing, we have all of the information we need, whether that be UTM codes, or what-not, so that we’re able to track and pull in all of that data to see trends.
Next, we want to consider two potential angles. So everyone knows the marketing funnel. Here. We’ll use this as my funnel. So we’ve got awareness, consideration and intent all the way down to someone actually converting and buying your product. So for this, if we have limited media dollars, one way to approach it is to really look at doing kind of a sandwich model.
So really focusing on that upper level awareness to fill your funnel and then that bottom intent portion of the funnel so that you can really focus on converting that audience. So filling the funnel at the top allows you to use your media dollars the most efficiently because you can do a really large, broad audience. And that’s really where you can continue doing testing at an efficient rate.
So using the least amount of money to get you the most information and data back on your audience. Consideration is where you can take that awareness bucket that you’ve filled with those paid media dollars and you can use your internal channels like email, organic social, things like that to communicate to that audience and continue driving them down the funnel.
Then we can use paid media to clip back in to target people when they get to that intent portion of the funnel. So that would mean that we’re using those dollars as efficiently as possible when people are actually ready to convert. So knowing where they’re at in the customer journey is extremely important, and that’s where that data for my very first point comes back in, knowing when they’re absolutely at the max where we can get them to convert and they’re nearing the end of that lifecycle.
That’s where we want to pull them back into paid media through CRM list and serve them exact messaging that they need at that time to actually make the conversion. When it comes to paid media on limited resources, one is really highlighting that awareness portion of the funnel and then also the intent portion of the funnel. I hope this was helpful.
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