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The Problem With JASON GARRETT… In His Ex-Players' OWN Words!!! 😡
Celestial Celebration Digital Media Campaign Week 1
Why did the Cowboys get anything in trade for Taco?
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“Never solve a product problem with marketing. Screaming louder is not going to help your case very much. Make sure you have something to say before you say anything at all.”
— Flint McGlaughlin
(This article was originally published in the MarketingExperiments email newsletter.)
What if you cut your budget 60 percent but achieved four times the profit?
In this video, Flint McGlaughlin reveals a new heuristic for achieving more performance with less investment. He challenges the classic approach to budgeting, identifying serious errors in our rationale, and provides a methodical system for prioritization.
Whether you’re a small entrepreneur or the CMO of an enterprise, this series can help you optimize your marketing strategy, budget, and planning.
In this first part, you will learn:
• How reversing the direction of your spend can double its impact.
• How to use your value proposition as a force multiplier (maximizing the effectiveness of your media spend)
• How to pay for a web project with “found money” before you invest a dollar in development
• Why the structure of your agency and most vendor relationships is optimized for their gain and not yours
• Why we spend too much too fast on advertising, and how to reinvest the money to produce a stronger ROI
Here are some key points in the video:
- 06:27 Better versus more
- 12:27 The Marketing Priority Heuristic (thinking tool) explained
- 19:40 Optimize your spend for mathematical impact
- 23:40 Mathematical demonstration of how to maximize revenue by reprioritizing your expenditures
- 40:29 How to use your value proposition as a force multiplier
- 45:47 How much to allocate to media and testing
- 48:00 Summary of an optimized spend sequence
- 48:50 Why the structure of your agency and most vendor relationships is optimized for their gain and not yours
- 49:29 Case study – Business software company
Related Resources
Marketing Research Chart: How are marketing departments allocating budgets?
Marketing Budgets: Majority of organizations increasing landing page optimization budgets
Advice From Three Digital Marketing Experts on Building Your Budget
Omnichannel Marketing Chart: The biggest challenges to marketers’ omnichannel strategies
The post Reprioritize Your Marketing Spend and Transform Your Results: Learn a radical new framework appeared first on MarketingExperiments.
The Problem With JASON GARRETT… In His Ex-Players' OWN Words!!! 😡
5 Website Design Secrets to Get You Noticed!
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“You will learn more about marketing if you get outside of the marketing literature and into the mind literature.”
— Flint McGlaughlin, Managing Director and CEO, MECLABS Institute
(This article was originally published in the MarketingExperiments email newsletter.)
Today’s video replay is loaded with valuable information about how and when to present your price to the customer while on their journey to the final macro-yes — the purchase.
Flint McGlaughlin shares two key factors in pricing strategy — timing and intensity.
He explains the importance of using the customer’s maximum moment of motivation (MMM) to get the timing right. A common error marketers make today is to continue discussing your product’s value after the MMM has passed. This mistake can actually lessen your product’s perceived value in the customer’s eyes, decreasing conversions.
McGlaughlin introduces how to intensify your product’s perceived value by tapping into three primary human desires — pleasure, power and meaning — suggesting that one of these is the top motivator marketers should consider for their pricing/messaging strategy. In doing so, genuine value is added to the customer’s life, as well as the marketer’s.
Watch the replay of this YouTube Live interactive session to gain valuable insights for your pricing decisions.
Here are some key points in the video:
- (4:40) Pricing strategy resource list
- (8:39) Price is not a number: How can I get the most value per customer?
- (19:14) Case study: 97% increase in conversion by finding optimal location of the price in the customer journey
- (20:25) Why you should not change one variable at a time when testing
- (26:06) Maximum Moment of Motivation (MMM): Customer’s perceived value of your offer diminishes after this point
- (28:25) How to map your funnel to achieve MMM
- (33:00) Value Proposition courses available: https://meclabs.com/education
- (35:12) “You will learn more about marketing if you get outside of the marketing literature and into the mind literature.”
- (39:10) How to apply customer psychology to pricing: Freud, Adler, Frankl
- (44:20) Victor Frankl: The importance of appealing to the customer’s desire for meaning
Related Resources
E-commerce: When should you reveal the price in your shopping carts?
Pricing Psychology Test: Shopping Guide Lifts Order Value 35%
Content Marketing: How a farm justifies premium pricing
The post Pricing Strategy: Leveraging customer psychology to maximize average customer value appeared first on MarketingExperiments.
Kents Dilemma
IMO anything about is great who agrees?
“You will learn more about marketing if you get outside of the marketing literature and into the mind literature.”
— Flint McGlaughlin, Managing Director and CEO, MECLABS Institute
(This article was originally published in the MarketingExperiments email newsletter.)
Today’s video replay is loaded with valuable information about how and when to present your price to the customer while on their journey to the final macro-yes — the purchase.
Flint McGlaughlin shares two key factors in pricing strategy — timing and intensity.
He explains the importance of using the customer’s maximum moment of motivation (MMM) to get the timing right. A common error marketers make today is to continue discussing your product’s value after the MMM has passed. This mistake can actually lessen your product’s perceived value in the customer’s eyes, decreasing conversions.
McGlaughlin introduces how to intensify your product’s perceived value by tapping into three primary human desires — pleasure, power and meaning — suggesting that one of these is the top motivator marketers should consider for their pricing/messaging strategy. In doing so, genuine value is added to the customer’s life, as well as the marketer’s.
Watch the replay of this YouTube Live interactive session to gain valuable insights for your pricing decisions.
Here are some key points in the video:
- (4:40) Pricing strategy resource list
- (8:39) Price is not a number: How can I get the most value per customer?
- (19:14) Case study: 97% increase in conversion by finding optimal location of the price in the customer journey
- (20:25) Why you should not change one variable at a time when testing
- (26:06) Maximum Moment of Motivation (MMM): Customer’s perceived value of your offer diminishes after this point
- (28:25) How to map your funnel to achieve MMM
- (33:00) Value Proposition courses available: https://meclabs.com/education
- (35:12) “You will learn more about marketing if you get outside of the marketing literature and into the mind literature.”
- (39:10) How to apply customer psychology to pricing: Freud, Adler, Frankl
- (44:20) Victor Frankl: The importance of appealing to the customer’s desire for meaning
Related Resources
E-commerce: When should you reveal the price in your shopping carts?
Pricing Psychology Test: Shopping Guide Lifts Order Value 35%
Content Marketing: How a farm justifies premium pricing
The post Pricing Strategy: Leveraging customer psychology to maximize average customer value appeared first on MarketingExperiments.