Between 2017 and 2022, the number of marketing solutions based in Europe increased from 150 to... more than 2,000!
Faced with so many options, how do you choose? Which acquisition channels should you prioritize for your 2023 marketing plan?
Nicolas Boissard, Marketing Director, helps you see more clearly during a new webinar.
Select acquisition channels
The first step is to define all the channels you are already using and then list the channels that could potentially interest you for the coming year. You also need to have an understanding of the time and resources used by each of these channels.
Once you have calculated the budgets allocated to each channel, you need to associate the number of leads generated by each. Finally, calculate the cost per lead. All of this will provide a global view of the different potential choices and allow you to choose the best acquisition channels for your company.
There are also other criteria to consider during the selection process.
What is the scalability of the channel?
What is the lead generation potential?
Do I have the internal capacity to increase the volume generated by this channel?
Define the budget per marketing acquisition channel
To allocate a budget to each channel, you need to go back and start by questioning how to calculate the marketing budget. To determine it, the best method is to measure the impact of investments based on the objectives of the past year.
Overall marketing budget = cost per contact X number of contacts to generate
Subsequently, you must connect all the acquisition channels that you plan to integrate into your company's marketing budget next year.
Generally, to define the budget associated with each channel, the essential elements are the different costs incurred and the number of leads/contacts generated.