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In tough times, many businesses feel the urge to cut back on marketing spending.
But what's the potential downside?
Your brand might start to fade away, missing chances to connect with customers and falling behind the competition.
Marketing isn't just about letting the world know about your business.
It's also a powerful tool to control your business. It directly affects your cash flow and drives your bottom line.
So, how do you make sure your marketing budget is working as hard as possible to meet your customer's needs and to grow your business?
In this episode, Sean Doyle discusses the importance of effective marketing spend and its direct impact on business finances. He shares insights on optimizing resources for growth and reaching customers closer to “cash” or conversion.
Sean is the principal at FitzMartin Inc., a leading consultancy focused on sales marketing and management, sales and marketing technology services, and revenue operations.
Sean and his team at FitzMartin are focused on long-term value creation through a sales-first, scientific approach to driving revenue.
Over a 25+ year career and more than 5,000 client engagements, Sean has amassed unmatched expertise in helping B2B companies sell more to their most profitable customers.
We discuss: (timestamps)
2:12 The significance of optimizing marketing spend rather than cutting it
2:37 Impact of Marketing Strategies on Financial Performance
10:00 The "speed to cash" mindset
Focusing marketing efforts on target groups close to making purchases
13:04 Marketing as a business tool, not just a creative or communications tool
13:38 Understanding business objectives is crucial for effective marketing
16:52 Hiring and Building a Strategic Marketing Team
23:36 Marketing budget based on top-line revenues or some variant of EBITDA
30:50 One actionable step to take to fine-tune your marketing
31:22 Centricity: Putting the buyer at the center of everything a company does
Resources:
Sean Doyle, Author, Speaker, and Advisor, FitzMartin Inc
https://seanmdoyle.com/
https://fitzmartin.com/
LinkedIn:
https://www.linkedin.com/company/fitzmartin/
Facebook:
https://www.facebook.com/fitzmartinmarketing/
Twitter:
https://twitter.com/FitzMartinb2b
Email:
sean@fitzmartin.com
Author :
Shift: 19 Practical, Business-Driven Ideas for an Executive in Charge of Marketing but Not Trained for the Task by Sean Doyle
https://www.amazon.com/Shift-Practical-Business-Driven-Executive-Marketing/dp/1605440574
Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/
Blog post | Transforming Marketing Spend into Business Grow
Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?
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