"We've removed a lot of the cumbersome, expensive, and mundane tasks of marketing," Sandstrom said. "Historically, we had to pay an agency or an artist to bring these ideas to life. We've saved millions on that ideation process alone."
Klarna has reduced its sales and marketing spending by 12% annually, the company told ADWEEK. This approach has meant that Klarna has been about to expand its reach across markets like Austria with less staff and at a lower cost.
In May, it announced a $6 million decrease in image production costs while running more campaigns and updating marketing materials more frequently. The company cut its sales and marketing spend by 11% in Q1 2024, with AI accounting for 37% of the cost savings.
Klarna's marketing chief, David Sandstrom, hints at potential further cuts to the marketing team as AI capabilities continue to expand.
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