Are you confident in your marketing plan for 2015? When the clock strikes midnight on Wednesday, will you have all of your marketing ducks in a row to get your business moving in the right direction?
If you’re unsure, then don’t worry, it’s not too late! Complete this simple 4-part checklist in the next 3 days so can be confident 2015 will be your best marketing year ever.
We don’t have a lot of time so let’s just dive right in…
1. Do You Have the Tools & Processes to Track Results?
If you do only one thing after reading this article, then make sure your tracking is set up properly. One of the worst case scenarios at the end of 2015 is to look back and have no idea, and no way to determine, what’s working in your marketing.
Seriously, that’s much worse than looking back at a series of failed marketing campaigns that you know with cold hard facts were not profitable. At least in that case you know what does not work so you don’t do it again! Plus, chances are there will be glimmers of success and areas to improve that could turn losing campaigns profitable.
That is of course if you had set up your tracking in the first place! :)
If you currently do not have the tools and processes in place to track the performance of your marketing campaigns, then stop reading this article right now, and go set them up. This is the most important task before New Years.
2. Do You Have a Monthly Budget?
I’m always amazed how many businesses do not have a monthly budget for marketing. This can often be a symptom from lacking proper tracking and viewing the marketing budget as an expense.
If marketing is an expense, then it makes perfect sense to fear and limit spending as much as possible. But what if marketing is an investment? What if you know based on data that when you invest $X,000 a month, then you generate a 10X return? I bet that would get you a little more excited about creating your monthly marketing budget. :)
If you’re just starting out, then you don’t have the data to know which marketing campaigns and channels are going to generate a return. Therefore, all of your budget is R&D (research and development). Over time, as you determine what’s working, you’ll have separate budgets for the profitable campaigns versus the unproven, R&D campaigns.
So the big question right now is whether or not you have appropriate marketing budgets? Are you investing enough in what’s already working while also investing to find new campaigns and channels in 2015?
3. Do You Have Realistic Goals In Line With Your 3-Year Plan?
I’m going to assume you’ve already set some lofty goals for 2015. Before you set them in stone and announce them to the world, take a minute to answer these important questions:
- How do your 2015 marketing goals fit into your 3-year plan? It’s possible you’re pursuing a marketing channel that does not get you closer to your longer term goals. It’s also possible you’re missing a channel that you need to start testing now in order to scale it up in the next couple years.
- Are your goals realistic based on your current situation? If you just launched your website and your goal is to generate 100 customers per week from online advertising, then you may be aiming a bit too high. It’s important to do your homework by either researching on your own or talking with expert.
- Have you broken up your yearly goals into their respective quarterly and monthly milestones? Going through this process will often bring to light unrealistic goals that will need to be adjusted. Better to realize this now versus December 2015.
4. Do You Have Resources to Implement?
At this point, you should have your tracking in place so you can calculate the return on investment (ROI) from all of your digital marketing campaigns. Plus, you’ve set your monthly budgets and double checked your goals to ensure they are realistic.
We’re almost ready!
The final question is do you have the human resources to implement your marketing? Do you or someone on your team have the time required to set up, manage, analyze and adjust the marketing campaigns based on performance?
There’s no such thing as a “set-it-and-forget-it” marketing channel. They all require upfront research and ongoing management to be successful. If you don’t have the resources, then now is the time to look for help. Click here to contact us, and we’ll follow up with more information about how we can set up and manage your marketing in 2015.