Marketing can either be a huge waste of time, money, and other resources, or it can be an efficient, valuable part of your business.
You’ve probably heard some variation of the arguably most famous quote in marketing history: “Half of the money I spend on advertising is wasted; the trouble is I don’t know which half.”
Unfortunately, that’s often true in the realm of marketing! But it doesn’t have to be. If you want to avoid that issue, start marketing strategically. There are three keys to marketing strategically.
Determine your goals
Chances are good you’re already doing and paying for a number of marketing services, activities, and assets. Be sure you know why you’re investing in each thing. Is it meant to support sales? Should it be generating leads? Is it supposed to make you look more legitimate? Should it make you easier to find?
Set up milestones
Once you’ve determined your goals, establish at least one trackable milestone for each. Often known as KPIs—Key Performance Indicators—this will help you determine if each service, activity, and asset is accomplishing its goal.
Determine your budget
Now that you know what you’re doing and how to determine if it’s successful, set a budget. Remember, your budget is more than just your money, it’s your time as well. What services, activities, and assets are going to make the cut?
Remember, the key with all this is to be strategic if you want to avoid wasting money. Put actual thought and strategy behind your marketing. Doing so will put you head and shoulders above many organizations.
Subscribe to Marketing the Sandler Way
Mike Crandall
Sandler Custom Growth Solutions
Mike Crandall is a Speaker, Consultant, Coach and Trainer focused on Sales, Management, and Leadership Development.
He's also the owner of Sandler Custom Growth Solutions, a world leader in innovative sales, management, and leadership training. They offer consulting, coaching, and training for individuals and organizations serious about professional development and growth.
Mike is the author of "Motivational Management The Sandler Way" and has written a sales column for several years.
Tim Priebe
Tim Priebe is a public speaker, author, columnist, and the owner of T&S Online Marketing. He helps businesses that are worried they don’t have the expertise or time required to invest in doing their own digital marketing. He helps them plan where and how much to invest and often helps execute the plan.
Tim’s company helps with websites, social media, blogging, email newsletters, Google rankings, and online video. Tim is the author of several online marketing books, including "102 Tweets," "Blog a Week," and "Online Marketing Mindshift."
