Marketing 101 (part two)

by James Fowler
www.mywebsource1.com

Previous Post: Marketing 101 (part one)

We all want our businesses to be successful. However, often we find that our advertising does not have the Return On Investment (ROI) that we expect. What happens is that we do not prepare ourselves before we start the wheels of advertising in motion. We aren’t quite sure what to expect other than to “make more money” or get our message out to our customers. Sometimes we will move forward with an ad or offer that is retroactive to our overall marketing goals because it seems like the right thing to do at the time and our goals have not yet been reached. Focus becomes lost and with it, our advertising dollars.

No one wants to lose money when it comes to advertising. Sadly, nothing is certain and you may find that your original message is not the right one. There are methods to avoid this. Let us take a look at what needs to be accomplished before you start your marketing endeavor. Walking blindly into an ad campaign- be it in print or on the web- is a recipe for failure. There are ways to avoid these pit falls. A solid strategy is a wise strategy. You need to ask yourself some basic questions and you will be on your way.

First, sit down with pencil and paper. What exactly are the objectives that you want this marketing to do for your business? Indicate a set of parameters that define your marketing as successful. Typical answers can be to bring in new customers, an increase in sales that brings in a set amount of dollars, or building up your market share in your industry. Make sure these are exact and realistic goals. If you want to make $100,000 in sales from new customers, but are unwilling to do what it takes to meet this goal, then you will fail.

Next, you need to create a strategy. A strategy will let you know what resources in time, money, and people you are willing to spend. It identifies the audience you want to reach and in what markets you wish to be in. It is advisable that your message be focused. If you offer a variety of products that have too wide of a focus, simplify your message. You do not want to be everything to everyone, even if instinct tells you this is right. Your message ultimately needs to stand out in the minds of your customers.

Know when your strategy will be take effect. If there is a deadline, be sure that you have the manpower and time to complete this goal. Make sure you know how much money you are willing to spend. Stick with this number. Realize if you are running an ad, it is going to take several months for people to find your ad and feel comfortable with it. Repetition is vital to ad success. Repetition adds to trust in your product and trust equates into sales.

Finally, you want to fulfill the objectives and strategies that you have put into place. Both have to come to fruition to be successful. Create the idea you have come up with and go to the implementation stage. Avoid over-analyzing your marketing strategy. Many companies get caught up in the analysis and opportunities are missed. This is sometimes referred to as “analysis-paralysis”. What good is a advertisement or e-book if it is never seen by the public because you are forever tweaking the final production? It is never going to be perfect in your eyes because you are too close to it. Back off and put your strategy into play. You can change it later, but no one will purchase from you if they never get the message.

Once the marketing is out there, don’t change it. Sure, you can adjust the message, but don’t start from scratch. This is a huge mistake. Again, you are too close to what is being presented to the public. You and your associates are seeing this every day. It becomes boring to you. It isn’t achieving your goal fast enough. This is all right. Your potential customer doesn’t see it every day. To them it is new. It will take them some time to become comfortable with your offerings. The message may take six months to a year. Be sure that you have budgeted for this in your strategy. Stick with it until the end.

No marketer can tell you if your next ad, e-book, or offering will be successful. The public is fickle and there are many factors that can topple your plans. However, you can decrease the chance of failure by defining “success”, setting your goals, and following through with your strategy.