4 Life-Saving Incremental Marketing Campaign Options
At some point in your marketing campaign pathway, you’re going to come across additional budget that you need to use. It’s inevitable. In fact, more than 60% of demand generation marketers claim that they finish the quarter with unused budget. There’s just not enough time in the day to plan out every inch of an additional marketing campaign, and sometimes, you need some help. That’s okay. So, when you find yourself in this position, what’s the best way to go about spending your additional budget, quickly, and intelligently?
Paid MQL Campaign
Yes, it’s true, you can in fact pay for MQLs. As a demand generator, MQLs are the life source of your position. So, it goes without saying that snagging additional marketing qualified leads is probably at the top of your list. That being said, there’s a right way to go about this and a wrong way (Nothing is ever that easy, right?). Paid MQLs come in various packages and qualities. Here’s a quick breakdown how you can go about putting together a last-minute campaign.
First and foremost, when paying for MQLs, you should take a look at what your campaign expectations are. Again, we’re talking “last-minute” here, but at the same time, you should go into to the campaign set-up with clear goals in mind. The best way to go about managing your lead quality is to decide on a targeted list of contacts you’d like to convert and match them up with a high-quality persona. Essentially what we’re talking about here is targeted persona marketing.
Just to cut to the chase- MQL costs are skyrocketing. According to IMA research, the average cost of an MQL conversion is $300. That’s crazy and almost impossible to manage with a quick, end of quarter campaign. Managing your expectations and using a content syndication service will help you not only keep the costs low, but snag some high-quality leads in the process.
Lastly, like we mentioned, you’ll want to gather up your top performing personas and put together a targeted list of the most ideal buyers. Going the content syndication route, you can easily select content that speaks best to those personas and contacts to ensure for the maximum conversion rates. If done properly, persona-based marketing will take you less time overall and accrue more SQLs.
If you’re looking at increasing engagement with selected accounts on a personal level, an identity-based display option might be the best route to go. That’s right, we actually recommend that display be tied directly to your ABM initiatives. It should, by no means replace your current account-based marketing programs, but when coupled together, display can really increase your conversion rates. That being said, a good network display option would be a great fit if you are currently working on targeted accounts and prospects. There’s about a thousand ways to put together a display program, so knowing your finite targeted accounts ahead of time is key here.
When trying to put together a display program quickly, you’ll want to make sure that you have defined goals in mind. Look at the content you have ready to go-to-market; is there a way you could spin up a quick ad? Also, don’t ignore simple “contact us” forms or easy to fill out call-to-actions. All you need to do is a have some ad copy written up to coincide with what you already have on hand, and you should be good to go!
Paid Social Media Marketing Campaign
Similar to targeted ad display, paid social media is a perfect way to increase your personalized marketing outreach, while focusing on targeted ad conversions. Boosting up a post, or even creating specific copy for a LinkedIn ad can be a quick and painless way to approach lead generation at the last minute. It’s definitely not the best approach, but, if done properly, can really help with lead conversions. There are some recommendations worth considering, however, if you’re going to approach social media lead generation. First off, make sure you have specific landing pages for your ads. The last thing you want someone to do is to click around on your website. You’re fighting an uphill battle trying to get their attention on social media, so make sure you have a focused follow up. Lastly, personalize your ads and landing pages to specific buyers. Think about who your prime buyers are, and write a LinkedIn post/ad talking directly to them.
If you’re like most marketers, you’re sitting on a pile of leads that have fallen out of nurture or gone cold. About 45% of leads go dark due to lack of marketing activities. Warming the leads up with direct outreach isn’t the fastest way to spend your marketing budget, but it’s definitely an option if you have all the materials available and ready to go. Lead development probably seems like a scary/ daunting task, but it doesn’t have to be. Here’s some ideas to help you get you started.
Paid Lead Development
This is a process in which a partner will take all of your old leads and nurture them for you. This probably is your fastest route to warming up your leads. It’s mainly due to the fact that the partner does all the heavy lifting for you. They typically use their internal SDRs to follow up on the leads and try to build awareness around your brand and content. Some of the leads will convert to an SQL, but even if they don’t, you can go into your marketing more confident knowing the leads are in a better spot than before.
Internal SDR Programs
Obviously aligning with your sales department is the most important, if not, the only way you’ll pull off a marketing focused SDR campaign. In this, you’ll need to pull together a list of dead leads that need to be revived, and write a 6-8 step cadence that involves multiple touch points. The reason why this needs to be managed by marketing is so you can see exactly how each lead responds. You’ll also need to set up an instance that allows you visibility into what leads were “unqualified”, “MQL”, “SQL”, and “Sales-accepted”.
If you want to learn more about managing last minute demand generation, read our blog about end of year demand generation planning (it really applies all year round). You can also check out how we help manage marketing budgets with cost-effective campaigns.