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How to Manage Marketing Channels Like A Stock Portfolio -- Emil Kristensen, CMO at Drip
Manage episode 348969377 series 3354052
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TIMESTAMPS
03:57 - Thinking of marketing channels “Stock Portfolio”
07:10 - Validation process
14:53 - Crafting your marketing team
23:51 - Short and long-term bets in marketing
25:39 - The thing that most marketers fail to do
GUEST BACKGROUND
Emil Kristensen is currently the CMO of Drip - a marketing automation platform for eCommerce. Previously he was the founder and CMO of Sleeknote. He also hosts a Danish podcast called Marketing Brief with over 3 million downloads.
MAIN INSIGHT
Interpreting marketing channels as a stock portfolio can give you better decisions and understanding.
KEY TAKEAWAYS
- When you invest in multiple channels, you must give them time and resources to show its results
- There’s no hack to growth in marketing
- Selecting marketing channels involves a validation process
- Analyze your competitors and do exactly what they are not doing
- Recreate your competitors’ org structures from LinkedIn when crafting your marketing team
- Short-term bets in choosing a marketing channel is a bet you want to take and see if it is good to invest for your long-term bets/goals
- If you find something that works, try putting a little more effort into it over time, rather than doing new things every single time
PRACTICAL STEPS
Choosing which marketing channel to put in your marketing “portfolio”
- Figure out what skills are already in your marketing team
- Analyze what are the KPIs of your company
- Analyze your competitors’ weaknesses and identify opportunities to beat them
- Use this information to craft your team and decide which marketing channels to invest in
- Set a goal framework for your team (short and long-term goals)
TIPS FOR SUCCESS
- Don’t copy what your competitors are doing
- Instead of trying new things, do more of the things that have already been validated
MORE FROM DRIP
Drip unleashes the power of direct-to-consumer brands’ customer data to deliver perfectly personalized email marketing strategies that are proven to grow revenue. Learn more at drip.com
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