#201: Paid Spend | Mastering B2B Paid Spend: A 2025 Roadmap for Marketers with John Short, CEO of Compound Growth Marketing
Dec 12, 2024
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John Short, CEO of Compound Growth Marketing, and Kym Parker, SVP of Media Strategy, share their expertise on maximizing paid spend for B2B marketing. They discuss why choosing the right media strategy is crucial and debunk the $100 CPL myth. The duo emphasizes actionable reporting and the importance of qualification for ABM success. They also explore multi-channel approaches, tailoring messaging for buying committees, and navigating bidding algorithms to optimize marketing efficiency. Their insights are game-changers for marketers aiming for growth in 2025.
A strategic approach to paid media involves aligning marketing objectives with corporate goals to maximize overall impact.
Understanding funnel economics is crucial for evaluating lead value, allowing marketers to make informed decisions about budget allocation for acquisition.
Creating a seamless customer journey across all touchpoints is vital for building trust and enhancing lead conversion rates.
Deep dives
Lead Response Time in B2B Sales
The average time taken for B2B companies to respond to leads is alarmingly slow, showing it currently takes an average of one day, five hours, and 17 minutes for businesses to follow up with potential customers. This delay can lead to significant losses, as modern buyers often move on to competitors if they do not receive a prompt response. Automated scheduling tools, like those offered by Revenue Hero, can enhance response times by allowing qualified leads to book meetings directly with sales teams. Effective automation not only improves customer engagement but ensures that companies do not miss opportunities with potential leads.
Strategic Importance of Goal Setting
A structured media strategy for businesses begins with setting clear goals aligned with overall corporate aspirations. Whether aiming to increase brand exposure, secure funding, or launch new products, defining these objectives is fundamental for success. Aligning marketing strategies with desired outcomes can help marketers identify effective tactics and approaches tailored to their specific audience. This approach ensures that all marketing efforts collectively drive toward a unified goal, thereby maximizing the overall impact.
Navigating Cost-Per-Lead Misconceptions
Many companies mistakenly fixate on specific cost-per-lead (CPL) figures from advertising campaigns without understanding their actual value in the sales process. The market’s prevailing conditions often dictate these costs; however, it is crucial to evaluate leads based on their funnel journey and conversion potential. Developing a thorough understanding of funnel economics, including average deal sizes and conversion rates, can provide clearer insight into how much should be invested in acquiring leads. This analysis enables marketers to adopt a more informed and strategic approach to budgeting for lead generation.
Creating Cohesive Prospect Experiences
A successful marketing strategy emphasizes the necessity of providing a seamless and cohesive experience for prospects across all touchpoints. From the initial interaction with digital ads to subsequent landing pages and offers, ensuring consistency is vital for building trust and guiding leads through the sales funnel. Misalignment, such as presenting a call to action for immediate demos without prior engagement, can create a disconnect that hinders conversion. By carefully designing each aspect of the customer journey, marketers can foster a more effective approach that resonates with their intended audience.
Understanding Targeting for Different Buyer Personas
Effective marketing strategies must consider the varied target personas within a company's overall customer base, especially for those with both enterprise and smaller-scale SaaS services. Different messaging and engagement approaches are needed depending on the size and needs of the buyer, requiring a tailored strategy for both segments. Greater awareness and familiarity with the brand should be emphasized for enterprise prospects, while smaller clients may require a more problem-solving-focused approach. By structuring advertising campaigns to align with the needs and motivations of each buyer persona, companies can optimize their outreach efforts and enhance conversion rates.
When done right, paid spend is like throwing gasoline on the flames of what’s working in your marketing. Done wrong – it’s just a huge waste of time and money.
In this episode, Dave Gerhardt hosts an live session with John Short, CEO of Compound Growth Marketing (CGM), and Kym Parker, SVP of Media Strategy at CGM, who walk through tried and true strategies they’ve built from managing over $50 million in paid spend.
They also cover:
How to choose which strategy is best for you and exactly how to target the right ICP
The three keys to successful paid media, like setting up actionable reporting
How to identify how much you can spend for leads/account at each stage of the sales and marketing funnel
Timestamps
(00:00) - - Intro to John and Kym
(07:29) - - Choosing the Perfect Paid Media Strategy
(11:57) - - The $100 CPL Myth
(15:32) - - Three Keys to Successful Paid Media
(18:10) - - Qualification Is Critical in ABM Success
(19:48) - - How You Should Think About Bidding Algorithms
(22:32) - - Prospect Experience: The Campaign Funnel
(24:12) - - Using a Multi-Channel Approach
(29:32) - - Mid-Intent Funnel Examples
(33:04) - - Executing on a Paid Acquisition Strategy
(39:13) - - Tailoring Your Messaging for Buying Committee Engagement
(43:47) - - Balancing Funnel Strategies
(46:28) - - Justifying Higher Costs
(50:43) - - Channel Testing and Target Comparison
(52:08) - - How to Master Paid Media in Enterprise Marketing
*** This episode of the Exit Five podcast is brought to you by our friends at Revenue Hero. It’s 2024, your buyer has probably moved on to an alternative after a few minutes of not hearing from you, let alone 29 hours.
What those companies need is automated scheduling for qualified leads.
And that’s where RevenueHero comes in. Their platform is the fastest way for qualified leads to schedule a meeting with your sales team. Plus they have the most sophisticated matching algorithm so all your leads get booked with the right rep whether they are a new account or already a customer. Check them out at revenuehero.io/exitfive.
***
Thanks to my friends at hatch.fm for producing this episode and handling all of the Exit Five podcast production.
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