Most companies do “checklist marketing” by default: We need to be on every social channel. We should have a newsletter for every customer segment. We need to go to all these conferences.
Fractional CMO Yasmin Morrison challenges her clients to think about marketing more like an investment portfolio and every quarter, you make bets.
If it doesn’t pay dividends, get out. Double down if it does.
And you can put the odds massively in your favor if you apply the 80-20 rule (also known as the Pareto Principle) where a small percentage of activities drive a large percent of results.
For example, 20 percent of your web pages are driving 80 percent of your traffic. Or, 20 percent of your blog posts are driving 80 percent of your leads.
“Because SaaS companies collect a lot of data, they’re usually sitting on a gold mine,” she says.
After conducting market research for one client, she found that two out of 100 integrations had significantly more demand than all the others combined.
They wrote one blog post on one topic and one use case. A month later, they had 10Xed their web traffic.
Speaking in terms of marketing as an investment portfolio will also improve communications with the CFO—it’s language they understand.
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