Special Series: This Is How You Should Audit | Bathroom Break #52

Hosts:

• Daniel Murray – The Marketing Millennials
• Jay Schwedelson – Do This, Not That Podcast and SubjectLine.com

Release Date: April 21, 2025

Introduction

In this engaging episode of The Marketing Millennials' special series "Bathroom Break," host Daniel Murray teams up with Jay Schwedelson from the Do This, Not That podcast to delve into the critical topic of auditing your marketing strategies, especially amidst an unpredictable economic landscape. While the episode kicks off with lighthearted banter about popular TV shows like White Lotus and movies such as Mission Impossible, the conversation quickly transitions to actionable marketing insights essential for businesses navigating turbulent times.

The Imperative of Marketing Audits in Unstable Economies

Navigating Economic Uncertainty
As economies face uncharted challenges, companies must reassess their marketing approaches to ensure alignment with current market conditions. Jay emphasizes the pressing need to audit marketing efforts to prevent wastage of budgets and resources:

“There is this kind of, like, uncharted economic stuff that we are all navigating... you want to make sure that it is aligned with what's going on on the planet that you are locked in and not wasting budget time, resources.”
— Jay Schwedelson [03:40]

Key Components of an Effective Marketing Audit

1. Revenue Alignment

   • Focus on Profit-Driving Activities:
     Daniel advises businesses to scrutinize their marketing activities based on their direct contribution to revenue and customer retention.

     “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...”
     — Daniel Murray [03:40]

   • Reviewing KPIs and Goals:
     It's crucial to reassess key performance indicators and objectives to ensure they remain realistic and attainable given the current economic climate.

2. Optimizing Paid Media Spend

   • Efficiency in Advertising:
     Jay shares a practical example of optimizing retargeting campaigns by refining audience segments, resulting in a 70% reduction in budget without compromising performance.

     “...we looked at the files that we were uploading... and we cut down on the size of our retargeting and remarketing files by about 70%. We lopped off a lot of people and we're still getting great performance...”
     — Jay Schwedelson [05:55]

3. Doubling Down on High-Performing Channels

   • Maximizing ROI:
     Daniel highlights the Pareto principle, suggesting that 80% of performance often stems from 20% of efforts. He recommends focusing resources on the most effective content, creatives, and audiences.

     “Double, triple down on retention right now... double, triple down on my content, my creative, my audiences that are working right now...”
     — Daniel Murray [07:06]

4. Enhancing Customer Retention

   • Prioritizing Existing Customers:
     With consumers hesitant to engage with new brands during economic downturns, both hosts agree on the importance of nurturing existing customer relationships.

     “Our existing customers. That is really where you want to focus in on how do we offer new products, new services, new things to our existing customers...”
     — Jay Schwedelson [07:06]

5. Messaging and Tone Audit

   • Aligning Communication with Current Sentiments:
     The hosts stress the need to adjust marketing messaging to resonate with the present moment, positioning the brand as a thought leader rather than making grandiose claims.

     “What is your tone? What are you saying? Because you want to be of the moment...”
     — Jay Schwedelson [07:06]

6. Tech Stack Evaluation

   • Streamlining Tools and Subscriptions:
     Daniel points out the often-overlooked aspect of auditing the technology stack to eliminate unused tools and optimize spending.

     “...audit on your tech stack. There's probably like a lot of spend that is happening of like usage in your tech stack that you're not using... find, consolidate and make it more efficient...”
     — Daniel Murray [08:13]

   • Preventing Unnecessary Renewals:
     Jay shares a relatable anecdote about the frustrations of auto-renewed subscriptions slipping through the cracks, underscoring the importance of vigilant tech stack management.

     “...nothing's more frustrating than you have some sort of... auto renewed with blah, blah, blah...”
     — Jay Schwedelson [09:08]

Practical Takeaways for Marketers

• Prioritize Revenue-Generating Activities: Focus your marketing efforts on strategies that directly contribute to your sales pipeline and customer retention.

• Optimize Media Spend: Regularly review and refine your paid media campaigns to enhance efficiency and reduce unnecessary expenditures.

• Strengthen Customer Relationships: Invest in retaining and nurturing your existing customer base by offering valuable products and exceptional service.

• Refine Your Messaging: Ensure that your marketing communications are timely, relevant, and position your brand as a trusted leader.

• Audit Your Technology Tools: Regularly assess your tech stack to eliminate unused tools and optimize your operational budget.

Conclusion

As economic landscapes fluctuate, the significance of conducting thorough marketing audits becomes paramount. By aligning marketing strategies with revenue goals, optimizing spend, focusing on retention, refining messaging, and streamlining the tech stack, businesses can navigate financial uncertainties more effectively. Daniel Murray and Jay Schwedelson provide actionable insights that empower marketers to make informed decisions, ensuring sustained growth and efficiency.

Connect with the Hosts:

• Daniel Murray:

  • Twitter: @Dmurr68
  • LinkedIn: Daniel Murray
  • Newsletter: Marketing Millennials Newsletter

• Jay Schwedelson:

  • Podcast: Do This, Not That
  • SubjectLine.com

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