DECEMBER 20228BY MAI PHAM, EXECUTIVE VICE PRESIDENT OF GROWTH, CRUMBL COOKIESTip 1:Businesses can only exist if they're profitable. The mission statement (equally important) gives purpose to a business, but profit helps them survive. As a company grows, teams get bigger, new roles are formed, and the distance between "increasing profit" versus "fulfilling on your daily responsibilities" grows. Leaders who can connect the dots will have the most impactful teams. Looking at profit = revenue - costs, my team can impact sales the most. This leads to my first tip on being an effective marketer: be results-oriented.For all leaders, our #1 responsibility is to manage resources effectively. There are two main types of resources: personnel and budget. When it comes to budget, for every $1 spent, we need to drive the highest return. Sometimes measuring results can be tough in marketing. It's hard to attribute an impression to a direct conversion, but there are ways like A/B testing, surveys, correlation in data analysis, etc. to inform which platforms and tactics we should invest in. Crumbl's marketing success early on was due to our heavy investment in digital marketing and drive to not just ask absolute questions such as "Does this tactic drive sales?" but also "Does this tactic drive more sales than the other tactic?" When your business is first growing, it's important to use marketing to hone in on your core audience and try and extrapolate as much insights as possible. Digital marketing was a cost-effective tool for us, and it allowed us to self-reflect on our campaigns. When it comes to personnel, I believe in eliminating "low-value work" and avoid hiring people to come on to do "busy work". As I tell my team, "busy work" is a choice. There are things we have to do to get the job done, but if it's taking more than 20% of our time, we need to ask ourselves "Can this task be automated? Is what I'm doing actually impacting my key results?" Never use "lack of budget" or "lack of personnel" as an excuse. If you can drive sales & show a return on investment, more budget and the ability to grow your team will come. Tip 2: In marketing, there's a lot of tactics ­ from TikTok ads to television commercials to billboards. As a results-driven marketer, I have to rely on data to drive my decisions.IN MY OPINIONMai Pham3UNCONVENTIONAL TIPS ON MARKETING LEADERSHIP
< Page 7 | Page 9 >