When it comes to driving real results with your marketing there is more to it than just hiring the right marketing team. It’s also not just about working with the best of the best or having the biggest budget. A major factor in the success of your marketing is what you can offer the team to work with. Believe it or not, seeing real results in your marketing comes from more than just writing a cheque to cover the advertising costs. In fact, there are several things that you should be supplying your marketing team with in order for your campaigns to succeed. Let’s explore some factors which contribute to your marketing success that you as the business owner should be preparing and comparing on a regular basis.
Consider That Time Is A Virtue
One of the biggest factors in the success of your marketing plan is the amount of time you give your marketing team to plan ahead and strategize. As the old saying goes, “Rome wasn’t built in a day”, neither are marketing results. Be sure you are giving your marketers a fair window of time to create, plan, and build strategies, as well as enough time to allow for results to show and trends to appear so that they have enough data to work with to find ways to improve your strategies at the same time. While some results may be instant, within a week, a month or two or even days depending on the call to action, a larger scale of success won’t come to surface until possibly weeks or even months later. Be patient, and allow your marketing team the time they need to help your business succeed, grow and prosper.
Better Your Budget
While the best things in life are free, the best marketers are not. However, that being said, just because a marketing team has a hefty price tag attached, it doesn’t guarantee results. Be sure you are spending your marketing and advertising budget wisely and make sure enough of your budget is being put into a team that can bring you real results, not just smoke and mirrors. It’s also smart to leave a little wiggle room for any changes or additional marketing add-ons you’d like to try later on down the line so that when a brilliant idea spikes you’re not strapped for the cash to make a little magic happen. You want your money to be well-spent, with results that are well-proven but you need to also be prepared to pay for the planning and strategy beyond the price tag of the ad units, flyers or marketing collateral. When you don’t include those costs in your budget, campaigns tend to fail, fall short or not be as strong as they should have. Much of the time, though not always, campaigns don’t perform well simply because the team couldn’t work on building the base needed for the strategy to launch the results to a higher return on your investment because your budget was a little too economical and was largely put against purchasing ads instead of investing in strategy.
Make Some Benchmarks
Everything has a starting point, even your business. When it comes to marketing your business, record the benchmarks of each area you’d like to improve. Whether it be reach, engagement, conversions, customer counts, followers or even online traffic which in turn relate to sales, it’s important to know where you’re starting and where you’d like to end up. Not only does this allow you to have a distinct idea of your results, it can also help you understand which aspects are short-term successes and which take more time. Additionally, following your benchmarks and results can help to build a clearer picture of which strategies are working, and which may need to change.
Build A Timeline For Your Campaigns
The error we see made most often is having too many strategies started at exactly the same time, just because you want to increase all areas of revenue simultaneously. It’s important to plan out which areas of your business you need to market or want to grow but it’s crucial to make sure that each goal has its own strategy, timeline, and plan of execution. Any marketing team understands that the reason for marketing your business is to grow your sales, but if everything starts simultaneously you won’t be able to track which areas of the plan are working and what is actually making the cash register ring.
Keep It Realistic
While both you as the business owner and the marketing team as your vendor have expectations of where you’d like to see your marketing go and the results you would like to see generated, it’s more important that those expectations be realistic. You have to remember that success takes time, money, and often a little trial and error to see major results. Be sure that your goals are pragmatic, and that your marketing team understands what you’d like to see happen and be sure to give enough of a buffer in your timeline to allow the actions to take place. Try mapping out goals for a variety of time frames, such as weeks, months and even a year, while allocating a budget against each as you go. This can help you and your marketing team have a stronger idea of your goals, targets, successes and failures as you progress.
The Devil Is In The Data AND The Dollar Signs
In order to drive real results from your marketing and advertising dollars, you need to know your numbers. Why? Because you live or die by your numbers. This statement rings true not only in business in general but also in marketing and advertising. You as the business owner need to trust your marketing team whether internal or external with the numbers they need in order to track, measure and create results that affect your bottom line. If you can’t or you are uncomfortable with sharing your revenues, conversion rates and profit margins with your marketing team. You don’t have the right team. If you don’t want to give your staff the details, hiring an outside marketing consultant to review the marketing results and lead the direction of the campaigns in a confidential manner could be the key you need to unlocking the success of your marketing. It’s usually overlooked or is thought to be irrelevant but knowing what your actual revenue is each month, helps to track and improve the return on your marketing investment. Knowing what each of your services or products profit margins are can help adjust marketing strategies, sales or promotional offers to align in order to increase your return on investment. For example, if you have a 90% clearance sale that you want to promote to blow out excess inventory, you might be interested to know that many people are actually less likely to shop a sale because they can’t calculate the real dollar figure of the discount. Whereas if you have a set discount like $5 off or all specially marked clearance is only $5 each. You’ll notice a better turnout of shoppers and sometimes even a better return on your marketing dollars because $5 is a tangible amount and can be a few cents or even a few dollars more than what the 90% off deal would have given the customer with the alternative strategy.
Everyone has a different creative vision when it comes to marketing a business or brand, but it is important to make sure everyone is on the same page and is working towards achieving the same goal. Don’t be afraid to ask your marketing team to explain each step and give you a breakdown of where your money is going, why the strategy is planned the way it is and how your results are stacking up. It’s just as important to make sure you are giving them what they need to succeed as well. Be sure you’re giving your marketers enough time, money and a full understanding of your expectations of results. If you have any questions about creating, executing or analyzing a marketing plan for your business or brand, don’t hesitate to give us a call at 705-252-4180. At 3SIXTY Marketing Solutions, our experienced team is always happy to help you build a solid marketing foundation to grow your business’s success not only today but month over month for years to come.