| Do
you ever wonder why you are not hitting your targeted ROI for
your marketing efforts?
Many companies; small and large
need to begin to look at the bottom line of why.
There are a
number
of different reasons and in today’s cut throat marketing
environment. Executives are more apt to cut budgets and expect
more lucrative ROIs. So what can you do to entice your top level
executives to
allow you to continue with your marketing efforts?
In the field of marketing there are defined areas that you must
do in order to prepare and present measurements. Planning for
you marketing efforts. Without the proper planning your marketing
efforts will be voided. Planning includes looking at your objectives
that you want your marketing to entail.
Market Potential
Too many companies look at strategies the wrong way. A strategy is not just
what you are going to do to build brand awareness or generate sales leads.
You need to look at ALL of the opportunities. Build your strategies to look
at all prospects. If you are looking at generating 5% of the leads, why
are you not looking at the other 95% of prospects? These 95% need to be viewed
as potential prospects. What are you going to do to gain their business?
Strategies are essential in looking at EVERY POTENTIAL prospect. Budgets
constraints do combat this approach however; look at how you can reach the
rest of the market. Don’t do what you competition is doing!
What are you measuring?
Do you know how many sales were actually retained because
of your marketing efforts and each campaign? The ability to accurately
measure each approach is essential. If your measurements are not
adequate do not dismiss this as being a failure. Look at why the
numbers are not what you expected. Was your name list poorly
executed,
or was your timing not right for your prospects. When you can
determine the “Why” you
can then look at how you will be able to maximize you marketing
ROI. While your measurements are vital, you should test variables.
Examples of variables include your creative, name lists, marketing
approach (e-mail, print or web), and also your offering. These
variables can be used to determine what enables your company to
generate higher marketing ROI.
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(Automated Email Tool)
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