Runaway Marketing

Here’s an excerpt from a recent conversation with a client during an intake session…
FIA: What marketing have you done in the past?
Client: We’ve done lots of ads, postcards, trade shows and e-blasts.
FIA: What’s working?
Client: I’m not sure.
FIA: Did you see an increase in revenue or an uptick in new clients since last year?
Client: When we do marketing and advertising, it makes the phone ring – and the emails start coming in and we get orders. But we’re not sure which things are working.
FIA: So why not just keep doing what you’re doing?
Client: Well, we’re spending a lot of money on marketing, and we’d like to cut out the poor performers and try some new ideas – but we’re afraid we might cut the one thing that’s been working.
This is an example of ‘runaway marketing.’ While we can see that one or more of the tactics are working, we’re unsure which one(s) are effective. And the fear of cutting the ones that are working is holding them hostage to making any new changes.
This campaign could benefit from installing some ways to measure the campaign’s success so that we know what’s working – and what’s not.
Here’s a few ways to turn this campaign around and get back in control of your marketing budget:

• Tracking. This helps to measure the response of the marketing tactic. A few examples of tracking include: unique phone numbers, promo codes, and online trackers.
• Ask Your Customers. Reach out to your customers – they are your built-in focus group.
• Your Website. If your site has ways to measure the traffic on your website, it can give you loads of valuable info about your clients’ buying behaviors – which can improve the way you sell to your prospects.

There are over 250 marketing tools available today. For many, finding the right tactics for your business can be a frustrating challenge.
To find out more about building a ‘marketing road map’ for your company, contact us today for your complimentary 30-minute consultation.