Welcome to a new special series called the Bathroom break.
Speaker AThat extra 10 minutes you either have to listen to marking tips or use the bathroom or both.
Speaker ABut I don't recommend both.
Speaker ABut that's your choice.
Speaker BThis collab is going to be super fun.
Speaker BWe have Daniel Murray from the Marketing Millennials and me, Jay Schwedelson from the do this, not that podcast and subjectline.com each episode in the series, we are going to go over quick tips about different marketing topics.
Speaker BAnd if you want to be in the bathroom, fine.
Speaker BJust don't tell us about it.
Speaker BThanks for checking it out.
Speaker AWe are back with another episode of the Bathroom Breaks.
Speaker AI'm here with DJ Schwedelson of Do this, not that Podcast, and I'm Daniel Murray of the Market Millennials.
Speaker AToday we're going to talk about how to audit why you should be auditing your marketing right now.
Speaker ABut first things first is I have to ask Jay a question.
Speaker AAnd the question is, what?
Speaker AWhat do you think about this season of White Lotus compared to the other two seasons?
Speaker BWell, first of all, I'm very happy.
Speaker BWhite Lotus had its highest viewership it ever had, which is great news because they're always talking about season four.
Speaker BI thought it was great.
Speaker BThere were certain storylines.
Speaker BI don't know why they had to have, but.
Speaker BBut I also think there was, like, controversy in terms of brands and marketing.
Speaker BI thought it was really funny how Duke, the university was pissed that the dad, the character in the show was wearing a Duke shirt because the dad was going through a lot of, you know, mental struggles during the season.
Speaker BAnd I just loved on social media how Duke and the dad were, like, going after each other.
Speaker BAnd then there were other.
Speaker BI mean, there was so much brand stuff in the show that from a marketing perspective, it was just funny to watch.
Speaker BBut you're definitely a White Lotus fan.
Speaker AOh, 100% white Lotus fan.
Speaker AI hope the next White Lotus is, like, in either Africa or, like, in a cold ski town or something.
Speaker BI think you're from Africa.
Speaker BIf you're just tuning in now and you don't know, but Daniel, until he was seven years old, lived in Africa.
Speaker BSo you wanted to be in Africa so it could be, like, in your home.
Speaker AWell, there is a four seasons, like in Tanzania, I think, or something like that.
Speaker ASo I think.
Speaker BDo you know, like, when you say Tanzania, I don't know where the hell that is, and neither does anybody else.
Speaker BBut do you know, like, all of Africa?
Speaker BLike, are you good with African geography?
Speaker ANo, I.
Speaker AI probably know, like, the south of Africa and because.
Speaker AAnd then that's.
Speaker AThat's about it.
Speaker BWow.
Speaker BYou did not do well in, like, kindergarten, apparently.
Speaker AYeah, you don't learn that at kindergarten.
Speaker BSo when you learn like the States.
Speaker BWhen you're in the United States, you don't learn like, where.
Speaker BWhat's an afternoon.
Speaker AYeah, I don't think in.
Speaker AWhen you're in first grade, you're starting to, like, know the capitals of every state.
Speaker AMaybe.
Speaker AMaybe it's some schools in the US.
Speaker BBut we're going to test Daniel, at the end of this.
Speaker BAll right, so we're talking.
Speaker BListen, the world is heading into kind of a little bumpy economy.
Speaker BDoesn't matter.
Speaker BWe don't care about politically what anybody thinks.
Speaker BI don't care what I think.
Speaker BThere is no doubt that there is this kind of, like, uncharted economic stuff that we are all navigating in terms of our companies, our brands, B2B consumer.
Speaker BAnd so we want to talk about auditing.
Speaker BAuditing.
Speaker BThis is the moment that you really want to audit what you're doing from a marketing perspective.
Speaker BSo that way you're making sure that it is aligned with what's going on on the planet that you are locked in and not wasting budget time, resources, whatever.
Speaker BSo how do we audit, Daniel?
Speaker BHow do we make sure that we are.
Speaker BAre locked in?
Speaker AI think the first question you ask is recentering on revenue.
Speaker ASo asking yourself, like, what's directly contributing to pipeline and revenue and thinking like, if it's not helping you make money or keep customers, you probably should trim those things for now until we get that.
Speaker AAnd that also adds another layer, like, go back, like, audit your KPIs and message if they're realistic, because if you message it early, it's better to get ahead of that with leadership than fall way behind.
Speaker ASo audit if things are tied to revenue or keeping customers retention.
Speaker AAnd an audit your goals to see if they are realistic in this time based on where you think the economy.
Speaker BIs headed, you know, and along those lines within whatever it is, your CRM or however you're capturing, your pipeline, your sales, all that stuff.
Speaker BYou also want to add a little asterisk to this moment in time for the next few months for sure, because you'll know what's going on now.
Speaker BBut a year from now, when you look back and you're like, well, our metrics were here and we crushed it versus, you know, Q2, 20, 25, you're not going to exactly remember that moment that we're in now.
Speaker BSo you want to put a little Asterisk on this time period.
Speaker BBut then the other thing in terms of audit is listen, we all have marketing spend.
Speaker BWe're doing paid media out there, all that stuff.
Speaker BYou want to look at all your paid media and that sounds obvious, but there are ways that you could rein it in.
Speaker BSo for example, well, this just happened in my organization.
Speaker BWe run a ton of remarketing and retargeting campaigns and we upload our databases to all the different platforms and we try to run all these ads for ourselves, for our clients, whatever, but we just went through and we looked at the files that we were uploading, which are all pretty large.
Speaker BAnd what we decided in order to save some dollars, we said, you know what, let's reprocess those files and only look at our top, you know, 10% customers, our most active, you know, people that are clicking through on other things.
Speaker BAnd we cut down on the size of our retargeting and remarketing files by about 70%.
Speaker BWe lopped off a lot of people and we're still getting great performance, but we're saving massive amounts of budget.
Speaker BSo thinking about ways you can kind of get rid of some of the leakage can really benefit you.
Speaker AI also want to add on that note is usually in harder times, a lot of people do pull back on marketing, which actually helps make marketing cheaper.
Speaker ASo if you're doing things efficiently, you are actually, your marketing can get more efficient because more and more people are going to pull back the budget.
Speaker ASo don't stop marketing.
Speaker AThat's not what we saying.
Speaker AJust find those channels or the, the, the highest performing creatives, the highest performing campaigns, the highest point.
Speaker ALike mo a lot of the time when you audit your revenue, you will see that 80% of your performance is coming from 20% of things.
Speaker ASo double down on things that are working right now.
Speaker AThe best performing content, the best performing ads, the best performing.
Speaker AAnd you can run tests, but in micro, micro test.
Speaker ABut I right now, I would double, triple down on my content, my creative, my audiences that are working right now, because that is what's going to keep you, you going and get a better return on investment, on your cac, on your spend.
Speaker BYou know, another thing to think about is for consumers, they get nervous about buying from new brands, trying new things, risking their money during a bumpy economic time.
Speaker BAnd for businesses, they don't really look at onboarding new vendors and putting through new vendors through procurement during a bumpy time.
Speaker BEverybody wants to kind of stick with what they know and what they got.
Speaker BAnd the reason that's really important is you really want to think about how are you going to get more revenue, how are you going to get more business?
Speaker BIt's going to come from your existing customers.
Speaker BThat is really where you want to focus in on how do we offer new products, new services, new things to our existing customers?
Speaker BHow can we handhold them better?
Speaker BHow can we treat them like VIPs?
Speaker BAnd overall, for everything that you're doing, your messaging needs to be audited as well.
Speaker BWhat is your tone?
Speaker BWhat are you saying?
Speaker BBecause you want to be of the moment.
Speaker BYou don't want to just be out there saying we're the greatest thing of all time and blah, blah, blah, as you do at any other time.
Speaker BYou want to be more of a thought leader and position yourself.
Speaker BSo audit even how you are outward promoting yourself.
Speaker AYeah, I would double down on that.
Speaker ADouble.
Speaker AYou need a double, triple, quadruple down on retention right now.
Speaker ARetain those customers.
Speaker ATalk to customers, ask them what they need.
Speaker ALike Jay said, treat them like VIPs.
Speaker AAnd another thing that I think or is a missing piece is go do an audit on your tech stack.
Speaker AThere's probably like a lot of spend that is happening of like usage in your tech stack that you're not using.
Speaker AAnd that's a great way like to not cut spend on marketing.
Speaker AYou can cut spend on costs of I'm.
Speaker AYou're probably overspending on some, some tool.
Speaker AYou probably.
Speaker ASomeone's probably not using a tool.
Speaker AYou probably have too many seats in a tool.
Speaker AYou're probably.
Speaker AThis is a time to cut the fat of your tech stack and find, consolidate and make it more efficient because you need that cash somewhere else.
Speaker BDude, that is so true.
Speaker BWe have a thing in our company that anything that auto renews we have in the special calendar because nothing's more frustrating than you have some sort of, you know, something in your tech stack.
Speaker BAnd then you're like, okay, we're cutting budget.
Speaker BAnd you found out, well, we just auto renewed with blah, blah, blah, and you're like, what the hell?
Speaker BWhy did we do that?
Speaker BSo I think that's a really important point.
Speaker BAll right, before we wrap up here, I want to know something.
Speaker BSo we were talking about TV before, but movies.
Speaker BMission Impossible is coming out.
Speaker BAre you like into Mission Impossible?
Speaker BAre you done with Tom Cruise?
Speaker BWhat is Daniel's take on Mission Impossible?
Speaker AI'm probably going to tell a story that nobody knows right now, but I think in fifth grade I played the trombone and the only song I knew was Mission Impossible.
Speaker AI knew you would Get a kick out of that one.
Speaker BAmazing.
Speaker AThe only song I knew how to do is Mission Impossible.
Speaker BOkay, if I got you a trombone for real and I shipped it to your whatever, would you play that on this podcast?
Speaker AI don't even know if I know how to.
Speaker AThis is like the fifth grade.
Speaker ABut I played for a year, though.
Speaker AI played in front of, like, this whole crowd.
Speaker AMission Impossible.
Speaker AAnd that's the only song I knew.
Speaker AAnd it was.
Speaker BYeah.
Speaker AI mean, so I.
Speaker AI guess I have an affinity on Mission Possible, though I don't even remember which was, like, the last Mission Impossible movie.
Speaker BOh, it's the Reckoning.
Speaker BThey've Reckoning is part two of the one he released, like, two years ago.
Speaker BWhat's wrong?
Speaker AOh, I like that.
Speaker AI do.
Speaker AI did like that movie.
Speaker AI did like that movie.
Speaker BEthan Hunt.
Speaker BThis is great.
Speaker AI do like Ethan.
Speaker AI can't believe that he's still going on.
Speaker AThat is crazy.
Speaker BHe's amazing.
Speaker BHe's a robot.
Speaker BAll right, well, once again, we've really said very important things on the show.
Speaker BThanks for being here and follow the show.
Speaker BFollow Daniel's marking Millennials do this, not that.
Speaker BDM Daniel, the Meaning of Life.
Speaker BAnd we'll see you the next one.
Speaker APeace.
Speaker BDaniel.
Speaker BCome on, man.
Speaker BI gotta get back to work.
Speaker BGet out of there.
Speaker BAll right, while he's still in there.
Speaker BThis is Jay.
Speaker BCheck out my podcast, do this, not that for marketers.
Speaker BEach week we share really quick tips on stuff that can improve your marketing and hope you give it a try.
Speaker BOh, here's Daniel.
Speaker BHe's finally out.
Speaker ABack from my bathroom break.
Speaker AThis is Daniel.
Speaker AGo follow the Mark and Millennials podcast, but also tune into this series.
Speaker AIt's once a week, the Bathroom Break.
Speaker AWe talk about marketing tips that we just spew out.
Speaker AAnd it could be anything from email, subject line to any marketing tips in the world.
Speaker AWe'll talk about it.
Speaker AJust give us a shout on LinkedIn and tell us what you want to hear.
Speaker APeace out.
Speaker BLater.