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How To Stay Profitable in the Current Economy

It's becoming a thing of the past for marketers to take part in something that is financially unfeasible, time-consuming, and poorly distributed. In difficult economic times, it's vital for businesses to keep their overall revenue (or at least not lose money) while making their marketing efforts as profitable as possible. It can be hard when budgets are tight, but luckily there are strategies you can use that don't compromise your bottom line while keeping your returns high.

Keeping The ROI High

Dwindling Budgets

As company budgets shrink, marketers can no longer afford to waste time and money on content that isn't in alignment with their buyer personas and goals. Today, more than ever, it's crucial for a marketer to align his or her content with ROI expectations and come up with fresh, original ideas.

With budgets shrinking, how can we maintain ROI? We need more effective and cost-efficient, data-driven approaches to meet our goals.  

Testing new content is one solution. However, A/B testing is expensive and time-consuming, so trying new creatives with larger sample sizes is often more harmful than helpful. The 80/20 rule (80% new ideas, 20% refreshing existing content) keeps a constant stream of new content flowing without disrupting the core of what's working.

This method works, but at what point does the 80% cost too much?

This might be clearer: when things get muddled up. One way to keep your tests organized and cost-effective is by only testing one variable at a time. When too many variables are tested with too many different variables, it becomes very expensive because more traffic and more time is required.

AI To The Rescue

With AI tools like Anyword, marketers are using the testing process in a more efficient way, making smarter creative decisions from the start, improving ROI and reducing waste. Anyword is an AI-powered copywriting platform that helps marketers tailor their messages to their ideal audience. It generates and evaluates copy for ads, social posts, email subject lines, landing page copy, and much more. In this example, Anyword Acquire provides performance marketers with data-driven features such as Predictive Performance Scores and Customer Personas so they can optimize their copy from the beginning meaning they can test fewer creatives.

Here are a few benefits of Anyword :

  • Anyword’s AI is easy to use and saves you time and money.
  • Boost communication performance
  • Tailor content for every channel
  • Make marketing a breeze
  • Get new ideas
  • Try it for free!

Thus, you're constantly creating new variations without diminishing your revenue or exceeding your budget. Plus, since AI allows us to make better decisions upfront, there's less wasted resources and less time spent tweaking campaigns.

The best approach is to come up with ways that allow you to spend less time refining campaigns while still reaching high levels of success. Using these tactics will lead to higher ROI through lower costs and better results.

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