In the process of implementing many projects, MKTPro found that an important problem occurred that MKT personnel did not measure the effectiveness and cost of communication, did not optimize resources, did not know how to budget. MKT and low labor productivity affect business revenue, wasting budget resources:
- Running Ads is expensive but the revenue is not much => Loss
- Difficulty in determining resources and estimated costs for MKT
- The content is not optimized, the cost of producing video content is large but the efficiency is not high => low customer conversion rate
- Haven’t chosen the right communication channel, the KOL rental is high, the cost of hiring a large agency account.
Therefore, optimizing resources, measuring marketing activities and costs is essential that the head of Marketing, the director of MKT and the enterprise should focus on.
BUILDING OPTIMIZED RESOURCES MANAGEMENT SYSTEM – MEASURE ALL MARKETING ACTIVITIES AND COSTS
At Enuy, the leadership has built a management system to optimize the resources and costs of the business, avoiding waste and loss. Measure all marketing activities, budgeting and expenses. Optimization from salary costs, personnel bonuses, investment costs for machinery and equipment, advertising communication costs, and costs of hiring KOLs are all measured and compared, thereby giving the level of performance. effectiveness of investment plans.
1. Optimal allocation of resources
- Make a specific marketing plan.
- Allocate the right jobs to the right people: Have commitment, and measure the effectiveness of each staff position
- Goals and budgets, should always align with company goals.
- Choose the right marketing channel for your business
2. Building a salary and bonus cost management system associated with KPI
Ensure that each salary expense will be optimized with human labor productivity. Attaching KPI to the payroll system, saving 20-30% of salary and directly attaching salary to the target system helps increase labor productivity 3.5 times compared to conventional businesses.
When assigning work to employees, it is associated with specific KPIs. Asking and answering questions does it help with business goals? Is it important work to do at this stage?
=> When HR does not complete that job, what will happen? Provide a plan to handle personnel training to supplement the missing skills, if they continue to work ineffectively, they will reduce their salary or fire, and replace them with a new employee.
From the system, department heads can manage human and labor performance through reporting and evaluation indicators. Develop a salary mechanism and remuneration regime in accordance with the capacity of personnel.
3. Building a marketing communication budget management system including:
Bảng báo cáo doanh thu, chi phí Marketing – sales,
Indicators that measure the effectiveness of communication channels,
Report table of revenue of each channel, cost of each communication channel and desired problems arising from customers
From the reported indicators, the leadership can measure the work progress of personnel, measure the percentage of completion, communication costs, revenue, … of the communication campaign. From there, propose plans for improvement and promotion.
Example: When giving a Sponsored Video Budget
=> It is necessary to set specific standards: Measure the level of interest of customers with the products – services of the business, the level of brand mention, the overall revenue growth rate over a period of time. certain.
After the promotional video is posted, is there any growth in revenue results? Has the lead rate increased? What is the customer conversion rate? Is there an increase in customer repurchase rate?
Communication costs can be planned by the number of targeted leads and channels that we deploy.
For example: ENUY once launched a product that is toiletries, when running ads on Facebook, to get 1 lead, it needs to spend at least 200,000 VND. After optimizing and testing the content, the price of 1 lead decreased to only 130,000 VND. The price of 1 customer lead depends a lot on the product the business is doing, but the content of running ads and the level of your campaign Ads also plays an equally important role. Therefore, to optimize communication costs, it is necessary to train personnel to understand the product.
Then proceed to select the communication channel. Depending on the products, services and target customers of the business, the management team can discuss and agree with the Marketing director on suitable channels to deploy the product.
Don’t depend on a single communication channel. When allocating to many different channels, the cost will be divided and it is possible to reach many customers on multiple channels.
Above is the method Enuy has successfully applied and achieved good results, optimizing resources – measuring marketing activities and costs.
What MKT Pro always focuses on is efficiency and customer experience. MKT Pro wants its partners to always grow and develop further in the market with our companion.
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