Every business owner or executive knows that marketing is essential to success. If customers don’t know what you’re offering (or worse yet, have no idea who you are) there’s no way your business is going to thrive and a really good chance that you’ll actually end up closing your doors. Ironically, that very understanding contributes greatly to the demise of far too many small businesses. We know that marketing is imperative, but in a rather panicked attempt to plaster our message everywhere, we end up missing the mark – and subsequently, our marketing endeavors end up backfiring on us.
Is your marketing helping or hurting your business? Here are a few things you should consider when answering that question.
- Is Your Marketing About Quality or Quantity? Strategy is everything when it comes to effective marketing. Essentially, you need to know who you are talking to, where to reach them and what to say. Mass marketing is money wasted. You don’t need every tactic in the book to be effective – you need a carefully selected few, and good research will point the way forward. Why pay for expensive airtime when a cleverly planned social media strategy will do the trick? Be precise with your tactics and you’ll be far better off.
- How are you Measuring Your Success? In a world where validation comes in the form of likes and shares, it’s far too easy to assume the reach of your marketing is a measuring stick for its effectiveness. Sure, it’s great to be liked, but is anyone who likes your marketing actually buying what you’re selling? It’s important that your marketing has a measurable return on investment – otherwise, why are you doing it?
- Are You Doing Something Original or Following the Crowd? Of course we all keep an eye on the competition, and subsequently, it’s easy to fall into the habit of copying what others are doing in the marketplace rather than carving a path for ourselves. For your message to stand out (and your business to be a unique brand) you have to think outside the box. There is no template for marketing success. You have to create your own. When you find tactics and messaging that work for your business, the results will speak for themselves.
- Do You Have Leads to Follow? The purpose of marketing is to generate sales, and the only way to sell is to follow up on your leads. Your marketing endeavors should create clear and traceable contact information, as well as drive customers to inquire with you. If it doesn’t, it’s not working.
- Are You Clear on Your Budget? Determining what you should spend on marketing can be a bit like walking a tightrope. Spend too much and you’re never going to recoup the costs. Spend too little and you’ve essentially wasted the time and money it took to create the plan. The key is to get the most bang for your buck. You’ve got to make every dollar count, and increase or decrease next year’s budget accordingly.
- How Much Time Do You Spend on Admin? In business, time is money. If you have to babysit your marketing – that is, if you or your staff is constantly having to update things in order to stay current, respond to endless inquiries that never lead to sales, or problem solve based on the responses you’re getting to your message, it’s time to re-evaluate your marketing plan. Most of the time invested in your marketing should be done upfront. Once your message is out there, the tactics should basically do the work for you.
How did you do? If you’re more confident in your marketing after reading this, kudos. But if this shortlist has triggered more questions than answers for you, it’s time to take a second look at you marketing strategy.
About WJ – William Joseph Communications
As a recognized leader in the marketing industry, William Joseph is a full-service agency that empowers businesses of all sizes to achieve bold performance targets. Our work is grounded in research and strategy, which not only serves to connect clients with their ideal target audience, but compels that audience to act. After years of direct experience serving the energy sector, we know for certain that marketing in the oil and gas industry isn’t optional, it’s essential.
Visit: williamjoseph.com
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