Picking the fruits of your marketing efforts can be very rewarding for your business, but planting the tree that produces those fruit and making sure it flourishes can be a painful exercise. We’ve come up with three thought-provoking exercises that will help you pick those juicy mangos.
It is no use making grand plans that do not measure up to the amount of money you want to spend on your marketing. Therefore, it’s important to start with a budget. This will allow you to go to a marketing company, tell them what you want to spend, and find out what they can deliver within that budget. It will also make it easier to compare what different companies could offer you, should you want to evaluate more than one.
Return on investment (ROI)
What use is spending money on marketing if you do not know how much money your efforts bring in? It is very important to set up your campaigns in such a way that, i.e. six months down the line, you’ll be in a position to say, “Yes, this worked, I’m going to continue”, or “No, I’ve tried it, it didn’t work”, and I’ll move on to something else.
Explore new channels
Marketing is an ever-changing landscape. Marketing channels that worked today, might not work tomorrow and vice versa. Allocate say 20% of your marketing budget to explore channels that you’ve never touched on in the past, or ones that you’ve written off years ago.