Business just like poker is about making optimal decisions to get success. It’s really exciting to see someone catch the last card to win the hand, but usually, the right decision is to avoid the desperate situation. Now digital marketing is undergoing the same revolution that poker did a decade ago. For many newcomers, the marketing teams should leverage data and software to reduce risk, maximize the budget and out-think the competitors to achieve the growth they crave for. Here are 3 strategies that online poker real money players can use to double up through digital marketing.
Be aggressive by being test-driven
The more knowledge you will have on your competition; the profitable decision you can make. In poker, it is called probe betting. At the table, the information is limited to where you sit, cards on the table, your hand and how much money you have. So to turn uncertainty into predictability, the pro players place speculative, small bets. They are less interested in winning the hand than gaining information through reactions of others.
While making probe bets in digital marketing, try to use small amounts of resources to evaluate a strategy before making any huge investment. If you make a small investment then you will make money to test tactics across different areas of the funnel, the more knowledge you will acquire and more winning strategies you will make. This is when you double down on what works.
Consider investing in smart tech
Companies that leverage data in marketing can grow faster compared to those who know the best ways to reach its audience. The right one will help you visualize the ROI of each decision and base your strategy on the data available to you. Often players play six or more tables to maximize the number of hands played each hour. The tracking software tells how they play each hand. If they lose constantly with pocket 10s, they can apply the data to figure out how to course correct. Try to analyze the campaigns from every angle, right down to individual audiences and creative to see the strategies work and which don’t produce ROI you need. The competitors may not be leveraging data so the right technology can turn data into a secret weapon.
Manage the bankroll
The money you have in poker determines the level of stakes you play at and how big the best are. By diversifying and allocating the marketing budget toward high ROI opportunities, you can limit spending while maximizing the results. So consider how much you spend on the established strategies versus speculative bets. Do you maintain spending or go all-in on winners? In poker like marketing, you don’t only lose the money with a bad hand and also lose by not pushing hand on a good one.
Balance your budget by extremes. Consider spending on proven successes and few on potential new avenues. Focus on the full funnel where the tests don’t require media spend always. Treat it like science to help maximize ROI and identify opportunities for growth.
We all want to make money and spend less. However, approaching digital marketing the way a poker player approaches the next hand can help you do that only. So stop vacillating between options and follow the data to go all-in on winning strategies.