We’re already two months into 2018, and if your company has been playing the guessing game when it comes to marketing, it’s time to take action! Even if marketing wasn’t a focal point of your annual strategic sessions, or if you don’t have the time or resources to make a robust annual plan, there’s one thing you can do, in particular, to ensure your marketing is as effective as possible: create a quarterly marketing plan.
Here are some reasons why I recommend creating a quarterly marketing strategy:
Quarterly results provide the motivation to continue. Although a quarterly marketing strategy is more detailed than a simple checklist, it is still a checklist of sorts. Once each part is completed, you earn a sense of accomplishment that urges you to continue.
Quarterly goals are less intimidating. With annual goals, it’s easy to delay tasks until the following week, month, or couple months down the road. Many of us are prone to bouts of procrastination if we allow them. Don’t allow them! Procrastination kills goals.
Quarterly goals give direction. If you don’t plan out where you want to go, how can you expect to get there? Going with the flow without a map could lead you to a dead end.
How to Start Your Quarterly Marketing Plan
Identify your target audience. If you haven’t already done so, it’s important to define who is most likely to purchase and use your product or service. Market research is one of the most effective methods of figuring this out.
Learn their behaviours. Is your audience online, or are they more prone to seeing your brand through traditional mediums such as print? You want your message to appear where your target audience is most likely to see it.
Compile a list of key dates for the upcoming quarter. Do you have an upcoming tradeshow? Undoubtedly, you know you’ll need collateral for it. Running a webinar? With no promotion prior to the event, how else do you expect to drive attendance? By outlining upcoming initiatives or events, you can better plan what’s required to allow you more time to focus on attaining your goals.
Set realistic goals. Marketing is intended to support the growth of your company. With that said, aligning business goals with marketing goals makes sense, and it ensures accountability for the entire company that does not rest solely on the marketing team.
Make it a one-stop shop. Include all upcoming campaigns, ad buys, content posts, and other relevant promotions that provide both a macro and micro look at the quarter. This approach will help you allocate resources where need be, and will ensure you stay organized with all things marketing-related.
Remember, a quarterly marketing plan will be more beneficial than having no plan at all. Once you’ve hit your quarterly goals, don’t stop! Marketing isn’t a temporary, one-time solution. Stick to the plan you’ve made and make changes to it if necessary.
There’s no doubt in my mind that you will start to see better results from your marketing once you have a blueprint to follow. As always, if you need help with developing a quarterly marketing plan or anything else related to marketing, contact CreativeWorks Marketing today!
If there’s one question I hear most often from business owners, it’s “how can you guarantee a ROI for marketing?” It’s a fair question, indeed, but one where the answer isn’t clear-cut. Undoubtedly, it’s good business sense to expect a return when you invest in something for your business; but when it comes to marketing, there are various factors business owners need to consider before axing a tactic that yields a low ROI.
Consider these factors when deciding if your marketing dollars are being spent wisely:
What strategy or technique did you use?
Marketing is a practice that incorporates many different tactics and techniques, and some strategies will have a direct ROI while others will not. For example, if you’re launching a lead generation campaign on Google AdWords, you can directly track the leads coming in from this source, while comparing the profit made from these leads against your budget. You’ll be able to clearly determine if the ROI is there or not. A similar approach can be used for trade shows. Did the revenue made from the show at least cover the cost of the booth and any other expenses it took to attend? Lead generation campaigns will be easier to track, but even still, some level of leniency should be applied when determining ROI. As I’ll explain, not all conversions are immediate, and this is something you definitely need to take into consideration.On the other hand, marketing practices such as branding or content marketing won’t necessarily yield a high ROI for your business. Does this mean these practices aren’t worth your time or investment? Absolutely not. These types of marketing tactics are important to keep your brand relevant and relatable for customers. No one likes a stale brand, and you should think of these tactics as a support to your lead generation campaigns.
Is your pipeline robust?
There’s value in building your pipeline. For every customer that converts into a lead, there are dozens, hundreds, or even thousands of other customers that come into contact with your brand and marketing messages. Some, if not many, of these other customers will result in future sales. That’s why consistent communication with both your current and potential customers is so important. Traditionally, it takes seven touches before someone notices and engages with your marketing message. It’s also why having a strategic marketing mix is vital to your marketing success, so customers are exposed to your brand through various mediums.Even if you have a transactional business, a well-defined brand experience will increase the chances of repeat business. And don’t forget: every customer is an influencer.
So to answer the question of whether marketing ROI is guaranteed: it depends. As business owners, it’s important we see the value in all facets of marketing that may not exactly yield a high ROI; however, I would highly recommend that past marketing initiatives be used for guidance when developing future marketing budgets. If you require assistance with developing a budget or marketing mix, contact CreativeWorks Marketing today!