SlideShare a Scribd company logo
Building a Financially Accountable Marketing Plan
Mission
Impossible?
Marcia Barnes
Founder + CEO
Unlimited Budget For
Marketing That Works
The good-to-great
companies understood a
simple truth: tremendous
power exists in the fact of
continued improvement
and the delivery of results.”
Jim Collins
“
FLYWHEEL
FLYWHEEL
Buying Marketing
is Broken
Budgets
Menus
Relationships
ILLUSION
VS
REALITY
Fixed Budgets
“Responsible” vs. Scarcity Mindset
Menus
“Options” vs. False Sense of Strategy
Relationships
“Trust” vs. Fear of Change
Immediate
Gratification
Real Results
Before You
Buy Marketing
1. Know Your KPIs
2. Answer the Damn Phone
3. Make Sure Your Team Converts
4. Build a Great Customer Experience
5. Engage Your Employees
6. Think of Vendors as Team Members
7. Understand Your Key Messages
8. Target the Right People at the Right Time
9. Align Your Business Strategy
10. Hold Everyone Accountable
Strategy Before Tactics
Math Before Marketing
Test Before Scaling
1. Core
---------------------------------------------------------------
2. Winning
---------------------------------------------------------------
3. Failed
---------------------------------------------------------------
4. Bad
---------------------------------------------------------------
5. Non Existent
Types
of Tests
Types
of Tests
START NOW
Develop testing strategy
Bad
Cannot be measured,
repeated/scaled, manipulating
multiple variables, no control, etc.
------
Non Existent
Fear of failure, perfection, no tools
or process, lack of experience (in-
house marketers)
START NOW
Develop testing strategy
Bad
Cannot be measured,
repeated/scaled, manipulating
multiple variables, no control, etc.
------
Non Existent
Fear of failure, perfection, no tools
or process, lack of experience (in-
house marketers)
ZERO TOLERANCE
Develop good discipline
to make right decisions
Types
of Tests
Return on Marketing Spend
What’s Your KPI?
NOT COST PER LEAD
Breakeven
Revenue
Per Customer
+
Lifetime in Years
+
Cross-Selling
Opportunities
Lifetime Value
Overhead
+
Profit Target
+
Marketing Spend
Know Your Numbers
Primary
ROMS
Above Breakeven
No Cash Burn
Minimum
ROMS
Equal To Or Greater
Than the KPI
Repeatable & Scalable
Profitable Growth
Setting the Mark
Core
Cannot be measured,
repeated/scaled
------
Winning
< Primary & > Minimum ROMS
Failed
< Minimum ROMS,
Burning Cash
Cut What is Not Working,
Refine Test, Learn
Types
of Tests
Core
Cannot be measured,
repeated/scaled
------
Winning
< Primary & > Minimum ROMS
------
Failed
< Minimum ROMS,
Burning Cash
Cut What is Not Working,
Refine Test, Learn
Types
of Tests
Optimize + Refine
Optimize + Refine
Core
= or > ROMS, can be measured,
repeated/scaled
------
Winning
< Primary & > Minimum ROMS
------
Failed
< Minimum ROMS,
Burning Cash
Scale + Repeat +
Continue to Measure
Cut What is Not Working,
Refine Test, Learn
Types
of Tests
Types
of Tests
Core
= or > ROMS, can be measured,
repeated/scaled
------
Winning
< Primary & > Minimum ROMS
------
Failed
< Minimum ROMS,
Burning Cash
Scale + Repeat +
Continue to Measure
Cut What is Not Working,
Refine Test, Learn
10-20%
20-50%
50-80%
Optimize + Refine
Be
Fearless
valveandmeter.com/swe

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Building a Financially Accountable Marketing Plan | Service World Expo 2018 - Presented by Marcia Barnes of Valve+Meter Performance Marketing