When it comes to marketing at any level, there are two baseline types:
In this video we discuss the differences between the two, strengths, weaknesses and what other processes you need to put in place to ensure you set yourself up for success.
Data Targeted requires evergreen ongoing marketing to continue to add fresh volume into your database but targeting within this is very low cost, and less competitive you have an earned and owned database to work within and drive incremental value.
Prospective marketing is typically higher cost where you’re fishing in places for intent/buying traffic – typically more successful when the marketplace is flooded with more buying traffic (e.g. Black Friday, Christmas, January Sales) but for a more BAU level of activity this can be expensive and you have to accept there’s a high % of your spend which is wasted on traffic that you will not convert for one reason or another so it’s imperative you do the math and treat the approach scientifically to balance your Spend and Return to establish a run rate sales target that achieves a breakeven or focus on ROI.