10 Signs It’s Time to Pull the Plug on Your Marketing Campaign
By sgoliger@hubspot.com (Sarah Goliger)
Have you ever gone to see a movie that got worse as you watched it, but you couldn’t leave because of the money you paid to see it? Or have you ever worked on a project that was clearly not going to solve your problem, but you just continued working on it?
Psychology refers to these examples as escalation of commitment and sunk cost theory, where we continue to do something without value because of the effort or cost we’ve already put into them.
In the marketing world, pulling the plug on a campaign can be extremely difficult, especially when you and your team have put a lot of work into it. But sometimes, it’s for the best. In this post, we explain 10 signs it might be time to pull the plug on your marketing campaign.
10 Signs It’s Time to Stop Your Marketing Campaign
No two campaigns are the same, but these ten signs indicate that it’s time to stop a marketing campaign.
1. If you’re not getting enough value
How do you know whether a marketing campaign is giving you enough value? Well, ask yourself:
- Are you going to break even on the money you’ve spent?
- Does the cost far exceed the value you’ll get?
If the numbers don’t add up, it might be time to stop the campaign.
2. If you’ve given enough time
Marketing campaigns require patience. Sometimes, you might not even see the results from certain campaigns in months.
However, if your marketing campaign takes way longer to generate positive results when compared to other campaigns of its kind, then it’s time to pull the plug.
3. Your optimizations don’t change anything
Suppose, in a bid to save a campaign, you begin to optimize different elements but still don’t notice any improvements; then, you should end the campaign.
You’d be better off spending your time and resources on other campaigns or revenue-generating activities.
4. It’s cheaper to stop now
If you’ll save more time and money by pulling the plug now rather than later, then that’s a sign the campaign needs to end right away!
5. When you’ve tried your best
If you and the team have tried all methods and tricks in the book to no avail, then it might be time to resign and move on with some pride left.
6. If you’re getting negative results
You know it’s time to pull the plug on your campaign if your weekly reports mostly contain red downward arrows instead of the green upward arrows
7. If other campaigns are working
You’re likely running more than one campaign at the same time. If you notice that all of your other campaigns generate the results you want, it’d be smart to drop the underperforming campaigns.
8. When your campaign sends the wrong message
Even the most well-meaning marketing campaign can get a ton of backlash from the public. Whenever a campaign is met with such a negative …read more
Source:: HubSpot Blog