The Online CMO by Philip Hallenborg

Most companies are now looking over how to get the most out of their marketing budgets. Here are my top 5:

1. Push a cost per order agenda – reduce risks by getting marketing communications suppliers to share your risk (cost per lead, cost per click or cost per order).
2. Transition budget into online vehicles primarily search but also affiliate programmes (skew your spendmix toward last click vehicles).
3. Reduce brand focused spend mix and increase sales focus sales mix – i.e. increase campain network budgets – deliver much more at a lower cost.
4. Do not cut banner/ display advertising online as a default cost reduction measure. At the end of the day this portion of your budget will create meta effects that improve click through and conversion across all vehicles online.
5. Consolidate your suppliers as much as possible. Do not buy online vehicles from three different suppliers. And why not skip the middle man unless you feel he is adding value.

Philip