MARKETING
How SMEs Can Improve Marketing Efficiency within Budget

Marketing is a vital element of any SME’s operation—especially if you’re just starting out.
Marketing is a way to get your name out there, reel in new customers, convert browsers to buyers, and build a core of loyal customers who will sustain your business through thick and thin.
All in all, marketing is worth doing—and it’s worth doing well. But of course, marketing comes with its fair share of challenges, not least the fact that it can be expensive.
Many SME owners are willing to grit their teeth and pay top dollar for great marketing. After all,, marketing campaigns can have fantastic ROI in terms of profit generated. That said, if you’re concerned about cash flow, it’s worth trying to make your marketing as cost-effective as possible.
With the right marketing strategies and the best software to back you up, it’s possible to make your campaigns more efficient without spending too much. You can generate significant campaign results for relatively little outlay through clever, targeted tactics and consistent engagement with your user base.
How? Let’s take a look.
Partner with Influencers & Brand Ambassadors

In terms of marketing efficiency, influencer marketing has a massive advantage over branded posts. Why? Influencers have incredible reach and committed followers who trust their recommendations.
The best influencers are also adept at digital storytelling, enabling them to create compelling, engaging content that resonates with audiences.
That said, it’s essential that you approach the right influencer to be your brand ambassador. Pick someone likely to appeal to your target customers.
To do this, dig into your customer metrics and establish what (and who) your customers will likely find engaging, informative, or simply entertaining. Go through your marketing data, CRM, and customer service records to better understand who your customers are and what they want.
It’s also worth investing in an ERP system, as this can connect all your data repositories, making it significantly easier to collect, collate, and understand your customer’s activity in a meaningful way. You can then use what you’ve learned to pinpoint the perfect influencer for your brand and which products they should focus on.
Encourage Training & Upskilling
Your staff is your best resource—and a more efficient marketing team means more efficient marketing.
Training and upskilling may seem expensive, but it’s worth the investment. A talented, well-trained marketing team can exponentially boost your marketing ROI.
Conducting training shouldn’t be a one-off, either. Marketing is constantly evolving. So marketers need to have their fingers firmly pressed on the pulse of industry trends and events.
Regular retraining and upskilling will keep your marketers up-to-date with current marketing trends. This, in turn, will enable them to work at the cutting edge of their industry.
Focus on SEO
SEO is a highly efficient, cost-effective way to boost your business’s online presence. You can get to the top of Google’s search rankings with relative ease by using an effective SEO strategy.

It’s a simple equation: as Google is often the first place people turn to when looking for a product or service, the more Googlable your business is, the more leads you will bring in.
To boost your SEO, you need to think about the following:
- Producing high-quality content
- Engaging with online audiences
- Having a solid, reputable online presence
- Keeping your social media updated
- Using keywords in your online content
- Staying on top of algorithm changes and SEO trends
Partner with Complementary Businesses
Building a network is a fantastic way to establish your brand without chewing into your marketing budget.
If you can find a business that complements your own, partnering with them for content campaigns and other messages could be a win-win situation.
For example, let’s say you’re in the business of selling cookware. A company that produces or sells cooking ingredients could be a fantastic partner. Together, you could produce recipe blog posts, video tutorials, and culinary tips featuring your cookware and their ingredients, all for relatively little cost.
You can then post this content across your brand’s platforms and theirs, doubling your reach in a single stroke.
Again, businesses you partner with must be relevant to your own. For example, if your cookware company partners with an art supplies store, customers will struggle to see the connection between the two. After all, art enthusiasts aren’t heading to a creative blog for cooking tips, nor will your customers expect to find painting tutorials on your social media channels!
With that in mind, look for businesses with a customer base likely to be interested in your products and vice versa.
Foster User-Generated Content
User-generated content (UGC) can make a big impact.
A good UGC campaign can simultaneously send engagement levels through the roof, boost brand/customer relationships, and vastly increase your reach.
Let’s take a look at a simple, but very successful, example.
In 2022, Shakira released a track with the Black Eyed Peas. Having been out of the mainstream eye for a while and wanting to make a huge comeback, Shakira generated a buzz about this new track by calling on fans old and new.
Her #girllikeme challenge invited TikTokkers to recreate the complex dance from the ‘Girl Like Me’ music video. Unable to resist, TikTok exploded with dance videos. In response, Shakira posted compilations of the best, most inventive, most amusing, and most relatable on her Instagram account.

The upshot was that the track gained a huge boost in plays and popularity. In addition, the hashtag had nearly 500 million views, and Shakira was catapulted back into the mainstream media.
You may not be Shakira, but you can still create a memorable, wide-reaching marketing campaign by encouraging UGC challenges, hashtags, and so on.
Think about how you can challenge customers to get creative with your products and share the results, whether it’s fun ways to reuse packaging or funny photos of pets using your product.
Contests are also a great way of incentivizing users to create content. The price of awarding a prize is worth the ROI of a successful UGC campaign.
Repurpose or Update Old Campaigns
You don’t want to churn out the same old ideas. But at the same time, there is little point in changing a winning formula just for the sake of it.
If an ongoing campaign is working well, keep using it. If a particular message or campaign worked well in the past, freshen it up and reuse it.
Even if you can’t recycle them, old campaigns are a great resource. Historic campaign data can offer useful insights about what does and doesn’t resonate with your customers.
If you want to be thorough, you should compare your campaign data with historical customer and sales data. This will give you a more in-depth analysis and help you to pinpoint why specific campaigns were successful.
To do this, make use of tools like cloud ERP software. This will give you access to the data you need, but also, as it’s a cloud-based solution, it will allow anyone on the team to access data from anywhere.
In this way, the marketing team can easily cross-reference campaign data with metrics like customer satisfaction, conversion rate, and complaints. It’s also beneficial for collaborating with other departments in real-time, so you can access historical data to make better decisions, even if you’re on the go.
But, it is important to be proactive about this. Simply churning out the same old campaigns because they worked once isn’t going to cut it.
Customer tastes change quickly. So, even if you feel that a campaign is still as relevant and engaging as before, it’s still essential that you update it for today’s market.
Utilize Referral Marketing
This is often confused with word-of-mouth marketing and UGC marketing. While there is some overlap between the three, referral marketing is different enough to deserve its own category.
Referral marketing directly incentivizes the customer to bring in new customers. In a typical example, a brand will offer customers a reward—often cashback, a gift card, discount, or free gift—if they persuade a friend to sign up for your service.

It’s worth noting that referral marketing is more common for businesses offering services rather than selling products. These businesses need customers to actively sign up for an ongoing brand/customer relationship rather than simply purchasing a new product whenever needed. However, it can work for product vendors as well.
To make sure customers are properly rewarded for referrals, set up a referral link system. When someone signs up using a customer’s referral link, your ERP software or other system will automatically note the details so everyone gets their referral bonus.
Efficient marketing campaigns don’t have to be expensive. Through careful planning, clear customer insights, an effective ERP system, and clever strategizing, you can run great campaigns with brilliant ROI, for very little initial outlay.
Digital channels offer huge opportunities to leverage your network and engage your customer base in brand-building ways without breaking the bank.
Sure, you get what you pay for in terms of staff, graphics, and so on. But marketing efficiency is more about knowing where and when to deploy that money. It’s about being strategic and insightful, rather than hoping that money will talk.
With the right approach, you can achieve a high degree of marketing efficiency and fantastic ROI—and you don’t have to increase marketing spend to do it.
MARKETING
OpenAI’s Drama Should Teach Marketers These 2 Lessons

A week or so ago, the extraordinary drama happening at OpenAI filled news feeds.
No need to get into all the saga’s details, as every publication seems to have covered it. We’re just waiting for someone to put together a video montage scored to the Game of Thrones music.
But as Sam Altman takes back the reigns of the company he helped to found, the existing board begins to disintegrate before your very eyes, and everyone agrees something spooked everybody, a question arises: Should you care?
Does OpenAI’s drama have any demonstrable implications for marketers integrating generative AI into their marketing strategies?
Watch CMI’s chief strategy advisor Robert Rose explain (and give a shoutout to Sutton’s pants rage on The Real Housewives of Beverly Hills), or keep reading his thoughts:
For those who spent last week figuring out what to put on your holiday table and missed every AI headline, here’s a brief version of what happened. OpenAI – the huge startup and creator of ChatGPT – went through dramatic events. Its board fired the mercurial CEO Sam Altman. Then, the 38-year-old entrepreneur accepted a job at Microsoft but returned to OpenAI a day later.
We won’t give a hot take on what it means for the startup world, board governance, or the tension between AI safety and Silicon Valley capitalism. Rather, we see some interesting things for marketers to put into perspective about how AI should fit into your overall content and marketing plans in the new year.
Robert highlights two takeaways from the OpenAI debacle – a drama that has yet to reach its final chapter: 1. The right structure and governance matters, and 2. Big platforms don’t become antifragile just because they’re big.
Let’s have Robert explain.
The right structure and governance matters
OpenAI’s structure may be key to the drama. OpenAI has a bizarre corporate governance framework. The board of directors controls a nonprofit called OpenAI. That nonprofit created a capped for-profit subsidiary – OpenAI GP LLC. The majority owner of that for-profit is OpenAI Global LLC, another for-profit company. The nonprofit works for the benefit of the world with a for-profit arm.
That seems like an earnest approach, given AI tech’s big and disruptive power. But it provides so many weird governance issues, including that the nonprofit board, which controls everything, has no duty to maximize profit. What could go wrong?
That’s why marketers should know more about the organizations behind the generative AI tools they use or are considering.
First, know your providers of generative AI software and services are all exploring the topics of governance and safety. Microsoft, Google, Anthropic, and others won’t have their internal debates erupt in public fireworks. Still, governance and management of safety over profits remains a big topic for them. You should be aware of how they approach those topics as you license solutions from them.
Second, recognize the productive use of generative AI is a content strategy and governance challenge, not a technology challenge. If you don’t solve the governance and cross-functional uses of the generative AI platforms you buy, you will run into big problems with its cross-functional, cross-siloed use.
Big platforms do not become antifragile just because they’re big
Nicholas Taleb wrote a wonderful book, Antifragile: Things That Gain From Disorder. It explores how an antifragile structure doesn’t just withstand a shock; it actually improves because of a disruption or shock. It doesn’t just survive a big disruptive event; it gets stronger because of it.
It’s hard to imagine a company the size and scale of OpenAI could self-correct or even disappear tomorrow. But it can and does happen. And unfortunately, too many businesses build their strategies on that rented land.
In OpenAI’s recent case, the for-profit software won the day. But make no bones about that victory; the event wasn’t good for the company. If it bounces back, it won’t be stronger because of the debacle.
With that win on the for-profit side, hundreds, if not thousands, of generative AI startups breathed an audible sigh of relief. But a few moments later, they screamed “pivot” (in their best imitation of Ross from Friends instructing Chandler and Rachel to move a couch.)
They now realize the fragility of their software because it relies on OpenAI’s existence or willingness to provide the software. Imagine what could have happened if the OpenAI board had won their fight and, in the name of safety, simply killed any paid access to the API or the ability to build business models on top of it.
The last two weeks have done nothing to clear the already muddy waters encountered by companies and their plans to integrate generative AI solutions. Going forward, though, think about the issues when acquiring new generative AI software. Ask about how the vendor’s infrastructure is housed and identify the risks involved. And, if OpenAI expands its enterprise capabilities, consider the implications. What extra features will the off-the-shelf solutions provide? Do you need them? Will OpenAI become the Microsoft Office of your AI infrastructure?
Why you should care
With the voluminous media coverage of Open AI’s drama, you likely will see pushback on generative AI. In my social feeds, many marketers say they’re tired of the corporate soap opera that is irrelevant to their work.
They are half right. What Sam said and how Ilya responded, heart emojis, and how much the Twitch guy got for three days of work are fodder for the Netflix series sure to emerge. (Robert’s money is on Michael Cera starring.)
They’re wrong about its relevance to marketing. They must be experiencing attentional bias – paying more attention to some elements of the big event and ignoring others. OpenAI’s struggle is entertaining, no doubt. You’re glued to the drama. But understanding what happened with the events directly relates to your ability to manage similar ones successfully. That’s the part you need to get right.
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Cover image by Joseph Kalinowski/Content Marketing Institute
MARKETING
The Complete Guide to Becoming an Authentic Thought Leader

Introduce your processes: If you’ve streamlined a particular process, share it. It could be the solution someone else is looking for.
Jump on trends and news: If there’s a hot topic or emerging trend, offer your unique perspective.
Share industry insights: Attended a webinar or podcast that offered valuable insights. Summarize the key takeaways and how they can be applied.
Share your successes: Write about strategies that have worked exceptionally well for you. Your audience will appreciate the proven advice. For example, I shared the process I used to help a former client rank for a keyword with over 2.2 million monthly searches.
Question outdated strategies: If you see a strategy that’s losing steam, suggest alternatives based on your experience and data.
5. Establish communication channels (How)
Once you know who your audience is and what they want to hear, the next step is figuring out how to reach them. Here’s how:
Choose the right platforms: You don’t need to have a presence on every social media platform. Pick two platforms where your audience hangs out and create content for that platform. For example, I’m active on LinkedIn and X because my target audience (SEOs, B2B SaaS, and marketers) is active on these platforms.
Repurpose content: Don’t limit yourself to just one type of content. Consider repurposing your content on Quora, Reddit, or even in webinars and podcasts. This increases your reach and reinforces your message.
Follow Your audience: Go where your audience goes. If they’re active on X, that’s where you should be posting. If they frequent industry webinars, consider becoming a guest on these webinars.
Daily vs. In-depth content: Balance is key. Use social media for daily tips and insights, and reserve your blog for more comprehensive guides and articles.
Network with influencers: Your audience is likely following other experts in the field. Engaging with these influencers puts your content in front of a like-minded audience. I try to spend 30 minutes to an hour daily engaging with content on X and LinkedIn. This is the best way to build a relationship so you’re not a complete stranger when you DM privately.
6. Think of thought leadership as part of your content marketing efforts
As with other content efforts, thought leadership doesn’t exist in a vacuum. It thrives when woven into a cohesive content marketing strategy. By aligning individual authority with your brand, you amplify the credibility of both.
Think of it as top-of-the-funnel content to:
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Build awareness about your brand
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Highlight the problems you solve
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Demonstrate expertise by platforming experts within the company who deliver solutions
Consider the user journey. An individual enters at the top through a social media post, podcast, or blog post. Intrigued, they want to learn more about you and either search your name on Google or social media. If they like what they see, they might visit your website, and if the information fits their needs, they move from passive readers to active prospects in your sales pipeline.
MARKETING
How to Increase Survey Completion Rate With 5 Top Tips

Collecting high-quality data is crucial to making strategic observations about your customers. Researchers have to consider the best ways to design their surveys and then how to increase survey completion, because it makes the data more reliable.
I’m going to explain how survey completion plays into the reliability of data. Then, we’ll get into how to calculate your survey completion rate versus the number of questions you ask. Finally, I’ll offer some tips to help you increase survey completion rates.
My goal is to make your data-driven decisions more accurate and effective. And just for fun, I’ll use cats in the examples because mine won’t stop walking across my keyboard.
Why Measure Survey Completion
Let’s set the scene: We’re inside a laboratory with a group of cat researchers. They’re wearing little white coats and goggles — and they desperately want to know what other cats think of various fish.
They’ve written up a 10-question survey and invited 100 cats from all socioeconomic rungs — rough and hungry alley cats all the way up to the ones that thrice daily enjoy their Fancy Feast from a crystal dish.
Now, survey completion rates are measured with two metrics: response rate and completion rate. Combining those metrics determines what percentage, out of all 100 cats, finished the entire survey. If all 100 give their full report on how delicious fish is, you’d achieve 100% survey completion and know that your information is as accurate as possible.
But the truth is, nobody achieves 100% survey completion, not even golden retrievers.
With this in mind, here’s how it plays out:
- Let’s say 10 cats never show up for the survey because they were sleeping.
- Of the 90 cats that started the survey, only 25 got through a few questions. Then, they wandered off to knock over drinks.
- Thus, 90 cats gave some level of response, and 65 completed the survey (90 – 25 = 65).
- Unfortunately, those 25 cats who only partially completed the survey had important opinions — they like salmon way more than any other fish.
The cat researchers achieved 72% survey completion (65 divided by 90), but their survey will not reflect the 25% of cats — a full quarter! — that vastly prefer salmon. (The other 65 cats had no statistically significant preference, by the way. They just wanted to eat whatever fish they saw.)
Now, the Kitty Committee reviews the research and decides, well, if they like any old fish they see, then offer the least expensive ones so they get the highest profit margin.
CatCorp, their competitors, ran the same survey; however, they offered all 100 participants their own glass of water to knock over — with a fish inside, even!
Only 10 of their 100 cats started, but did not finish the survey. And the same 10 lazy cats from the other survey didn’t show up to this one, either.
So, there were 90 respondents and 80 completed surveys. CatCorp achieved an 88% completion rate (80 divided by 90), which recorded that most cats don’t care, but some really want salmon. CatCorp made salmon available and enjoyed higher profits than the Kitty Committee.
So you see, the higher your survey completion rates, the more reliable your data is. From there, you can make solid, data-driven decisions that are more accurate and effective. That’s the goal.
We measure the completion rates to be able to say, “Here’s how sure we can feel that this information is accurate.”
And if there’s a Maine Coon tycoon looking to invest, will they be more likely to do business with a cat food company whose decision-making metrics are 72% accurate or 88%? I suppose it could depend on who’s serving salmon.
What is survey completion rate?
Survey completion rate refers to the number of completed surveys divided by the number of total survey respondents. The result is then multiplied by 100 to get a percentage. Survey respondents include those who completed the survey, and those who started the survey but didn’t complete it.
While math was not my strongest subject in school, I had the great opportunity to take several college-level research and statistics classes, and the software we used did the math for us. That’s why I used 100 cats — to keep the math easy so we could focus on the importance of building reliable data.
Now, we’re going to talk equations and use more realistic numbers. Here’s the formula:
So, we need to take the number of completed surveys and divide that by the number of people who responded to at least one of your survey questions. Even just one question answered qualifies them as a respondent (versus nonrespondent, i.e., the 10 lazy cats who never show up).
Now, you’re running an email survey for, let’s say, Patton Avenue Pet Company. We’ll guess that the email list has 5,000 unique addresses to contact. You send out your survey to all of them.
Your analytics data reports that 3,000 people responded to one or more of your survey questions. Then, 1,200 of those respondents actually completed the entire survey.
3,000/5000 = 0.6 = 60% — that’s your pool of survey respondents who answered at least one question. That sounds pretty good! But some of them didn’t finish the survey. You need to know the percentage of people who completed the entire survey. So here we go:
Completion rate equals the # of completed surveys divided by the # of survey respondents.
Completion rate = (1,200/3,000) = 0.40 = 40%
Voila, 40% of your respondents did the entire survey.
Response Rate vs. Completion Rate
Okay, so we know why the completion rate matters and how we find the right number. But did you also hear the term response rate? They are completely different figures based on separate equations, and I’ll show them side by side to highlight the differences.
- Completion Rate = # of Completed Surveys divided by # of Respondents
- Response Rate = # of Respondents divided by Total # of surveys sent out
Here are examples using the same numbers from above:
Completion Rate = (1200/3,000) = 0.40 = 40%
Response Rate = (3,000/5000) = 0.60 = 60%
So, they are different figures that describe different things:
- Completion rate: The percentage of your respondents that completed the entire survey. As a result, it indicates how sure we are that the information we have is accurate.
- Response rate: The percentage of people who responded in any way to our survey questions.
The follow-up question is: How can we make this number as high as possible in order to be closer to a truer and more complete data set from the population we surveyed?
There’s more to learn about response rates and how to bump them up as high as you can, but we’re going to keep trucking with completion rates!
What’s a good survey completion rate?
That is a heavily loaded question. People in our industry have to say, “It depends,” far more than anybody wants to hear it, but it depends. Sorry about that.
There are lots of factors at play, such as what kind of survey you’re doing, what industry you’re doing it in, if it’s an internal or external survey, the population or sample size, the confidence level you’d like to hit, the margin of error you’re willing to accept, etc.
But you can’t really get a high completion rate unless you increase response rates first.
So instead of focusing on what’s a good completion rate, I think it’s more important to understand what makes a good response rate. Aim high enough, and survey completions should follow.
I checked in with the Qualtrics community and found this discussion about survey response rates:
“Just wondering what are the average response rates we see for online B2B CX surveys? […]
Current response rates: 6%–8%… We are looking at boosting the response rates but would first like to understand what is the average.”
The best answer came from a government service provider that works with businesses. The poster notes that their service is free to use, so they get very high response rates.
“I would say around 30–40% response rates to transactional surveys,” they write. “Our annual pulse survey usually sits closer to 12%. I think the type of survey and how long it has been since you rendered services is a huge factor.”
Since this conversation, “Delighted” (the Qualtrics blog) reported some fresher data:
The takeaway here is that response rates vary widely depending on the channel you use to reach respondents. On the upper end, the Qualtrics blog reports that customers had 85% response rates for employee email NPS surveys and 33% for email NPS surveys.
A good response rate, the blog writes, “ranges between 5% and 30%. An excellent response rate is 50% or higher.”
This echoes reports from Customer Thermometer, which marks a response rate of 50% or higher as excellent. Response rates between 5%-30% are much more typical, the report notes. High response rates are driven by a strong motivation to complete the survey or a personal relationship between the brand and the customer.
If your business does little person-to-person contact, you’re out of luck. Customer Thermometer says you should expect responses on the lower end of the scale. The same goes for surveys distributed from unknown senders, which typically yield the lowest level of responses.
According to SurveyMonkey, surveys where the sender has no prior relationship have response rates of 20% to 30% on the high end.
Whatever numbers you do get, keep making those efforts to bring response rates up. That way, you have a better chance of increasing your survey completion rate. How, you ask?
Tips to Increase Survey Completion
If you want to boost survey completions among your customers, try the following tips.
1. Keep your survey brief.
We shouldn’t cram lots of questions into one survey, even if it’s tempting. Sure, it’d be nice to have more data points, but random people will probably not hunker down for 100 questions when we catch them during their half-hour lunch break.
Keep it short. Pare it down in any way you can.
Survey completion rate versus number of questions is a correlative relationship — the more questions you ask, the fewer people will answer them all. If you have the budget to pay the respondents, it’s a different story — to a degree.
“If you’re paying for survey responses, you’re more likely to get completions of a decently-sized survey. You’ll just want to avoid survey lengths that might tire, confuse, or frustrate the user. You’ll want to aim for quality over quantity,” says Pamela Bump, Head of Content Growth at HubSpot.
2. Give your customers an incentive.
For instance, if they’re cats, you could give them a glass of water with a fish inside.
Offer incentives that make sense for your target audience. If they feel like they are being rewarded for giving their time, they will have more motivation to complete the survey.
This can even accomplish two things at once — if you offer promo codes, discounts on products, or free shipping, it encourages them to shop with you again.
3. Keep it smooth and easy.
Keep your survey easy to read. Simplifying your questions has at least two benefits: People will understand the question better and give you the information you need, and people won’t get confused or frustrated and just leave the survey.
4. Know your customers and how to meet them where they are.
Here’s an anecdote about understanding your customers and learning how best to meet them where they are.
Early on in her role, Pamela Bump, HubSpot’s Head of Content Growth, conducted a survey of HubSpot Blog readers to learn more about their expertise levels, interests, challenges, and opportunities. Once published, she shared the survey with the blog’s email subscribers and a top reader list she had developed, aiming to receive 150+ responses.
“When the 20-question survey was getting a low response rate, I realized that blog readers were on the blog to read — not to give feedback. I removed questions that wouldn’t serve actionable insights. When I reshared a shorter, 10-question survey, it passed 200 responses in one week,” Bump shares.
Tip 5. Gamify your survey.
Make it fun! Brands have started turning surveys into eye candy with entertaining interfaces so they’re enjoyable to interact with.
Your respondents could unlock micro incentives as they answer more questions. You can word your questions in a fun and exciting way so it feels more like a BuzzFeed quiz. Someone saw the opportunity to make surveys into entertainment, and your imagination — well, and your budget — is the limit!
Your Turn to Boost Survey Completion Rates
Now, it’s time to start surveying. Remember to keep your user at the heart of the experience. Value your respondents’ time, and they’re more likely to give you compelling information. Creating short, fun-to-take surveys can also boost your completion rates.
Editor’s note: This post was originally published in December 2010 and has been updated for comprehensiveness.
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