Here are our five top tips for getting the most from your marketing spend.
For many start-ups and SME’s, marketing appears to be the stuff of wizards and sorcery. When it works, the business grows magically, sales come flooding in and everyone is happy. When it fails, few can explain why. If this has happened to you, you will know the frustration, and if you have worked with marketing agencies, you will clearly want to understand why things didn’t work out! But can how you engage with your chosen agency to ensure better results?
Here are some tips as to the best way to go about tackling this.
Your first step is to ensure you understand and have a clear definition of marketing. The dictionary definition is: “the process or technique of promoting, selling, and distributing a product or service” However, this is pretty close to the definition for sales and can be confusing, a better definition would be: “Marketing provides tools to make the sales process scalable and support business growth!”
A small company can easily sell products and services to a small audience by employing sales people, but if you want to grow big, you need to figure out how to get exponential sales without relying on people for everything.
Great marketing requires understanding of the many tools that are available and the knowledge and skill to use them to their full effect and create impact. Only then can you see consistent ROI (Return on investment) on your marketing spend. Not magical but in fact logical and planned. A good agency can plan, implement and provide ROI but without guidance from you as the business owner there is still a chance they will fail! Think of it like a football team, if all you needed was the players to win the match then why are there managers and coaches?
Here are five top tips to better engage with your agency to ensure you win the game…
Marketing is largely communication, and it starts with how you communicate with your chosen agency!
Before you engage with any agency have a clear picture of what you want to achieve! What level of sales would make you happy, be clear on your company’s objectives and highlight areas that you feel are not doing well for you. Share any previous activities and the effect they had on sales.
2. Catch up
Arrange and stick to regular updates and keep the communication open. If you miss updates the likelihood is you will begin to panic or worry that things aren’t working. Regular catch-ups will ensure both parties are on the same page and will keep things on track.
3. Forget what your competition are doing!
It’s understandable that you will see your competitors doing something and think ‘I’ll do that’ but just because its worked for them doesn’t make it the right solution for you. Doing the same as your biggest competitor could actually hurt your sales rather than growing them. Look to your agency for new ideas and let them get on with it!
4. Be realistic
Set goals that are achievable and measurable. Not all marketing activities will provide instant ROI, some will take time. A clear communication with your agency will ensure you understand which activities will be about brand awareness and which will be lead generation. Be sure you are clear on this and that you have set your expectations accordingly.
Finally, always remember that a good marketing agency will have a vested interest in your success. They will want to succeed for you because it’s good for their business, so put some trust in them, and give them space and time to carry out the activities.
If you’re interested to hear how Digital Luminance could help your business across any of the marketing functions, drop us a line using the form provided and we’d be happy to have a no obligation chat to see what we could do.