How to Evaluate Your Marketing
The digital marketing landscape in 2019 is changing rapidly, and businesses that wish to stay ahead of the curve will need to take a good, hard look at their current marketing strategy and make some changes.
By performing a self-analysis and looking at your marketing strategies and objectives, you’ll be better able to respond to and engage your ideal audience while staying one step ahead of the competition.
This is why we created a comprehensive eBook that explains exactly how to improve your marketing strategy in just five simple steps. We’ve summarized the main points of it in this blog post. If you’d like to learn more about each strategy in greater detail, you can download it for free below.
Perform an Internal Assessment
Before you can start to fine-tune and dial in your marketing strategies, you’ll first need to first perform an analysis on what your brand is doing right—and wrong—in relation to the overall marketplace.
This analysis should look at your potential customers, projected annual growth, potential competition, and any other related factors. This will give you a clear view of the growth potential of your brand over the next 12 months.
Once you’ve performed a self-analysis, you’ll be better able to refine your efforts so that you can respond to the realities of your audience as well as the existing industry competition. This will help you create a marketing plan that will set your brand apart from the rest of the pack.
You need to base your marketing plan on actual data. Otherwise, it’s nothing more than an educated guess as to who your actual audience is and where you can reach them. To accomplish this, you’ll need to perform market research.
While market research can be somewhat daunting and time-consuming, it’s the only way you’re going to get a realistic view of the overall market. Once accomplished, you’ll be able to take that data and create an intelligent marketing plan that will meet or exceed your brand’s objectives.
Develop a Marketing Plan
Once you’ve performed your market research, you now have enough data to create a marketing plan. The goal of a marketing plan is to not only land new clients and customers but define and set your business apart from the competition.
A solid marketing plan includes defining an objective, building your strategy, selecting your tactics, and establishing a marketing budget. Keep in mind that it’s essential to build in some flexibility into your game plan so that you can immediately react to challenges and new opportunities that may arise as the months go by.
Executing Your Plan
Now that you have a high-level marketing plan, it’s time to put it into action. This is one of the most challenging steps as you’ll need to make granular changes along the way to ensure you execute it correctly. A marketing plan consists of many different moving parts and usually requires a team of people to help see it through.
You’ll need to look at delegating projects, managing campaign deadlines, prioritization, performance indicators, and regular retrospectives to review your progress. You might even need to conduct additional marketing research midway through your campaign to help ensure that your efforts will achieve the desired results.
Measure Your Results
Objectively measuring your results will help ensure that you’ll accomplish the goals of your marketing plan. It will also provide a wealth of data that you can use to fine-tune it even further. Many companies will first start measuring by looking at their sales data to determine if the marketing plan has had any effect.
However, in some cases, you might find that the metrics you’re looking at aren’t providing enough data. You’ll need to have enough flexibility built in to look at other metrics that might offer more insight. For example, these can include website and email data, leads and revenue generated, and social media performance.
If the data suggests that certain marketing tactics are not working, you’ll need to have enough flexibility to reevaluate, adapt, and make changes.
Ready to Improve Your Marketing Plan?
The above five strategies are proven methods that can help jump-start your marketing, engage your ideal audience, and drive more leads and sales through your front door. If you’d like to learn more, download our free eBook which will explain each strategy in greater detail, and provide helpful tips and tricks for best chances of success.