Have you recently rebranded, started a blog, launched a new ad campaign, or implemented some other form marketing, but you aren’t seeing the results you were looking for? Every dollar counts when running your own business, so it can be quite disappointing to spend valuable time and money on marketing efforts that aren’t producing a positive return on investment (ROI).
So what can you do to steer your marketing strategy back in the right direction? Here are the steps I suggest to help you achieve the marketing results you want:
- Regularly Create and Update Goals
Unless you’re a not-for-profit business, your overall goal will always be to turn a profit. But what smaller steps can your business take to reach that incredibly broad goal? Annual marketing plans allow you to see where you’re going and where you’ve been. You can even split annual goals into more manageable quarterly marketing strategies with KPIs that help you evaluate where your plan has succeeded and why.
Keep in mind that annual and quarterly goals should be treated more as guidelines rather than as a source of panic should you happen to have less-than-perfect KPIs. I encourage you to regularly monitor your KPIs and learn from them by continuously re-evaluating your strategies and goals. And remember, any changes to your business goals should also be reflected in your marketing strategy.
- Re-Evaluate Tactics
If your KPIs reveal that your business is not reaching your target conversion rates, ask yourself these questions to evaluate if you are using the best marketing tactics for your brand:
- Are you advertising on the correct channels? To help you answer this, you need to determine the exact demographic of your target market. With market research you can determine whether your ideal customers are more likely to notice bus ads, YouTube ads, or some other form of advertisement.
- Are you marketing what makes your business unique? At CreativeWorks Marketing, we strive to help businesses understand what makes them unique. Your key differentiators are likely the reasons why your customers choose you, so it’s important to make them known. There are multiple ways you can do this, such as rebranding, hosting events to introduce new products or services, or launching awareness campaigns.
- Are you benefitting from search engine optimization (SEO)? After investing substantial time and money on a stellar website, it’s reasonable to think that it should appear at the top of search engine results. However, you might need an SEO strategy to make this happen, including the use of relevant content, images, and links.
- Set Realistic Expectations
As much as we might like everything to happen instantaneously, marketing takes time. A few days, weeks, or even months may not be enough time to see the kind of ROI you are looking to get out of your marketing efforts. This is why I encourage you to develop quarterly and annual marketing plans: so you can keep track of how your tactics are progressing, even if the conversions aren’t coming through just yet.
Another reason to be patient and realistic is that every business moves at its own pace. There are many factors that determine the success of a business, some that may even be out of your control, but if you’re consistent with your marketing efforts you’ll reap the benefits in the long run.
To point your marketing plan in the right direction this upcoming quarter, contact CreativeWorks Marketing today!