#AskPeshev 178: Money On The List

#AskPeshev 178: Money On The List

February 01, 2023

The apparent layoffs and losses going on around in business as a result of the global crisis would make you think that the marketing budget has taken a blow as well. However, the stats shared by Neil Patel show something else:

  • 26% of B2C companies plan on increasing their marketing spending, 51% plan on maintaining, and only 23% plan on decreasing their budget.

  • 34% of B2B companies plan on increasing budgets, 45% plan to maintain, and 21% plan on decreasing their overall marketing.

As it turns out, many companies know better than to cut off what primarily drives profitability: Marketing.I'd like to turn your attention to email marketing—a marketing channel proven to be the source of many solid deals and sales.And when you talk about profitable marketing, money is on the list (your email list). Check out my latest blog post on email marketing and email list building 🚀 Set your eyes upward with me as we try to achieve our main business objectives with key results. (Check out my in-depth discussion on OKRs in the highlights)Mario My Take Email Marketing and the Art of Email List BuildingWhat remains to be a highly effective and lucrative digital marketing channel, email marketing continues to dominate many of today’s digital marketing strategies. This year alone, 347.3 billion emails are forecasted to be sent and received per day worldwide. Come 2025, there will be 4.6 billion email users around the world. We have long gone past the discussion on whether you must invest in email marketing or not. Read more…

 Business Strategy 

  • DOW: 34,086 (+1.09%)

  • NASDAQ: 11,584 (+1.67%)

  • S&P: 4,076 (+1.46%)

*Economy numbers as of February 1st*

The start of a new year is a natural time for defining two distinct types of goals. First, most professionals and teams are formalizing annual business plans or objectives that specify what outcomes they are hoping to achieve that year. Second, these same professionals (along with millions of others) are identifying aspirations for their personal and professional development...Read more… Management 

  • January 2023 Tech Companies with layoffs: 256

  • January 2023 Laid Off Employees: 82689

* Statistics taken from layoffs.fyi as of February 1st *Forbes: 4 Ways Business Leaders Can Support Their Employees’ GoalsFor the past two years, we’ve all watched the evolutionary workplace processes prompted by the Great Resignation. Take flexible work arrangements, for example. They’re now the norm in many industries that used to claim jobs couldn’t be done well remotely. However, one outcome of the mass employee exodus still needs to be explored and examined: how to help employees feel like their work matters.Read more… Recruitment 

  • Rising salary expectations: 57%

  • Work-life balance expectations: 53%

  • Remote work expectations: 45%

  • Career advancement expectations: 38%

* Statistic taken Statista's "Main factors contributing to recruiting and retention challenges worldwide 2022 *Spiceworks: How 71% of HR Leaders Miss Key Candidates Due To Inefficient ProcessesThe HR profession is going through a roller coaster due to several factors driving the business environment. As such, the job of recruitment leaders has become more challenging. So, how are they responding to this situation? And what key trends may affect recruitment this year? Findem and KarmaCheck conducted a study to find the answers.Read more…

 Breaking News 🚨

  • Nikki Haley is expected to formally announce on Feb. 15th that she is running for president

  • The Biden Administration plans to end national and public health emergencies with a major shift to federal response

  • Memphis Police Department to permanently disband its Scorpion unit after Tyre Nichols' death

 Marketing 

  • Projected worldwide Email Marketing revenue 2023: $10.89 billion

  • Projected worldwide Email Marketing revenue 2027: $17.90 billion (+64.37%)

*Statistics taken from Statista's "Email marketing revenue worldwide from 2020-2027"*

COVID-19 has separated the years into a pre-COVID and post-COVID era. What customers liked a couple of years ago does not appeal to them anymore. With changes in their behavior and preferences, you will have to make several modifications in the way you market your products or services. This applies to the entire marketing strategy including emails.

 Sales 

  • Growth Domestic Product Q1 2022: +2.9%

  • Producer Price Index - Final Demans December 2022: -0.5%

  • Compensation costs change 2022: +5.1%

*Statistics taken U.S. Bureau of Labor Statistics & Bureau of Economic Analysis *

Business-to-business (B2B) sales involve selling products or services to another business. This selling category is becoming increasingly popular due to its large market potential and substantial sales opportunities.

 Featured Story of the Week 

Several goal-oriented systems exist. Business frameworks like EOS or 4DX present opportunities for managers to establish goals and KPIs. OKRs are among my favorite. Objectives and Key Results provide a framework for setting high-level goals along with some actionable measurables in place. Metrics must be SMART - simple, measurable, attainable, realistic, and time-bound. Devising a clear flow facilitates that and keeps everyone on the same page. What methodology do you use at work (or enjoy)?