1. Focus on Areas with High ROI
With the multitude of advertising mediums available to reach potential customers, it is harder than ever to determine where to start. From direct mail to Facebook, marketers have more choices than ever. These choices, however, make many companies struggle on deciding where they should invest their marketing dollars. You really need to start with asking some basic questions. What is your target audience? What product or service do you want to promote? And most importantly, what marketing channel is likely to produce the highest return on investment? Understanding your target audience, the best marketing medium to reach them, and your products and services that are the most profitable can help stretch your marketing budget and produce the results you are looking for.
2. Measure Your Successes… and Failures
This is the golden age of analytics and data. Companies large and small are relying on the ability to easily quantify their marketing efforts and, if needed, change things on the fly if the results are not to their liking. Tools like Google Analytics, Constant Contact and Call Tracking are great for marketers to understand the effectiveness of any specific campaign. From the number of clicks on your email promotion to the bounce rate on specific pages on your website, you no longer have to rely on anecdotal evidence or a “feeling” on how successful your messaging is.
3. Utilize a Marketing Calendar
“A goal without a plan is just a wish.” – Antoine de Saint-Exupéry
Now that you’ve determined your marketing focus, and created a way to measure your efforts, you’ll need to develop an execution strategy. Companies that are most successful frame out their marketing efforts by utilizing a marketing calendar. A good marketing calendar facilitates better management of your budget, creates efficiencies in development, and lets you review your marketing efforts in totality. By establishing this structure it helps keep your team on task throughout the year, especially during your busiest times.