Market Planning: Quantify and Measure Marketing Objectives
As we approach the end of the year, I am looking at all of the "marketing programs" that are being sold these days. Most of them are not really new. They are a redo of old marketing programs and techniques that have worked well in the past.
So my question to you is...Are you running a marketing campaign or just doing one shot programs that change everytime a new "program" is released?
If you are not planning ahead and setting goals for your marketing in terms of profitability, media channels and revenue levels you are not really marketing, you are not building a business that will last and continue to create revenues.
You are just trying to make money in the moment. And following the fads in the marketplace.
If you are really serious about building your business you will sit down and write down what you are trying to accomplish with your marketing this coming year.
Is it to build your list? How many?
Get new customers? How Many?
Retain old customers?
Introduce new products? How Many? What Profit Margins?
Stabilize revenues? To what level?
Increase the average sale amount? To What Level?
With specific questions, you can form actionable plans and do specific actions to accomplish the goals that you have put in place. More importantly, you will know when what you are doing is working and not working.
Ask yourself and your team specifically...What are these marketing tactics and strategies supposed to produce in terms of bottomline revenues.
If what you are doing is not producing bottom and topline results, then they are not working and you need to regroup.
The goal of all real marketing for a business is to increase profits.
Marketing "done right" will increase your revenues. Marketing "done right" will also reduce your expenses. Think about it. If you can get a 2x response and sales from the same advertising budget, you have fixed a cost and increased profits.
So I encourage you to sit down and really ask yourself the hardest questions of all...
"Why am I marketing? What am I trying to do here? How will I know if is working or not?"
Best Results,
David Bullock
Marketing Optimization Specialist
www.results-squared.com
So my question to you is...Are you running a marketing campaign or just doing one shot programs that change everytime a new "program" is released?
If you are not planning ahead and setting goals for your marketing in terms of profitability, media channels and revenue levels you are not really marketing, you are not building a business that will last and continue to create revenues.
You are just trying to make money in the moment. And following the fads in the marketplace.
If you are really serious about building your business you will sit down and write down what you are trying to accomplish with your marketing this coming year.
Is it to build your list? How many?
Get new customers? How Many?
Retain old customers?
Introduce new products? How Many? What Profit Margins?
Stabilize revenues? To what level?
Increase the average sale amount? To What Level?
With specific questions, you can form actionable plans and do specific actions to accomplish the goals that you have put in place. More importantly, you will know when what you are doing is working and not working.
Ask yourself and your team specifically...What are these marketing tactics and strategies supposed to produce in terms of bottomline revenues.
If what you are doing is not producing bottom and topline results, then they are not working and you need to regroup.
The goal of all real marketing for a business is to increase profits.
Marketing "done right" will increase your revenues. Marketing "done right" will also reduce your expenses. Think about it. If you can get a 2x response and sales from the same advertising budget, you have fixed a cost and increased profits.
So I encourage you to sit down and really ask yourself the hardest questions of all...
"Why am I marketing? What am I trying to do here? How will I know if is working or not?"
Best Results,
David Bullock
Marketing Optimization Specialist
www.results-squared.com
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