Trying to pinpoint what the best marketing tools and techniques are for your business can be challenging.
With an overwhelming number of marketing trends and channels available, deciding on the best ones for you and your budget isn’t easy. So how do you build a marketing plan and know that it’s working?
We’ve jotted down five key things to think about when putting together, and monitoring, your marketing plan…
1. Knowing your objective
You can’t design a marketing plan without knowing why you are doing it and what your key objective/s is or are. First and foremost, decide on the key motivator behind your marketing. Are you trying to increase sales? Improve brand awareness? Gain newsletter sign-ups?
You may want to do all of the above, but each aim will require a slightly different approach and, therefore, a slightly different plan.
2. Knowing your audience
Even the most focussed, well-designed messaging will be wasted if it isn’t aimed at or seen by the right people. Knowing your target audience and where they are, how they purchase, what they like etc. is key to ensuring your marketing is best placed for success.
Using your online analytics to help draw a picture of a key demographic, as well as gaining feedback from your customers are great ways to help identify your target market.
3. Knowing your budget
Without setting a marketing budget, it will become very easy to spend a lot of money very quickly. Working out your cost per acquisition or conversion and what will work for your business profits is obviously very important.
Throwing money at a paid channel may work well in the short term, but long term, it can often work out more cost effective to explore other avenues which will provide a greater return further down the line. For example, paid search may create a sudden surge in traffic and conversions for your business, but relying solely on this channel and spending all of your budget on it can mean that you ultimately become dependent on this channel. This will make it difficult to move away from should you need to reconsider your marketing spend or campaign.
With digital marketing, comes great analytics (that one’s for the Spider-Man fans).
Although offline marketing can be tricky to measure, the great thing about anything online is that you can monitor and measure the results via analytics. Social media, e-marketing systems and paid online advertising all offer their own forms of analytics, for example, including click through rate, conversion rate, open rate and customer journey information.
Monitoring these constantly is a must. You can pinpoint which channels are more effective than others and refocus your marketing where necessary.
5. Testing, Conversions and ROI
Running A/B testing is another way of checking that your marketing is working. If you’re hesitant to focus your budget too heavily in one place or in one way, or just starting out, running A/B testing is a great way of seeing which will work best for your business.
Ultimately, you will want to know the return to your business from your marketing. Tracking your conversions will provide you will an ROI on your marketing, so use your analytics and discuss results with your sales team. If this is lower than you had expected, then it is worth readdressing your strategy to identify how this can be improved. Of course if it is as forecasted or better, then congratulations, your marketing is working!
Want to discuss how we can help you with reviewing your current marketing strategy or provide support by creating a plan for you? Get in touch! 0115 88 00 181 | firstname.lastname@example.org