How To Tell If My Marketing Is Working?

How To Tell If My Marketing Is Working?

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67% of small and medium business owners don’t have a marketing action plan.

Fail to plan, plan to fail.

What this means to us is that SMEs don’t know if their marketing is working. According to The Marketing Centre, metrics and measurement are perceived as the greatest marketing challenge in 2024 for SME business leaders.

Why is planning a big challenge?

Because you might not know where to start, time (or inclination). When we initially start working with clients, we do a discovery process where we pull your marketing apart and then put it back together with actionable insights and a plan. We have done this with lots of clients now, and throughout this process, we look at the following areas; this will give you an insight into how you can understand this a little better.

Success looks different to everyone

Marketing success will look different to everyone – depending on your goals and your business. For example if your goals are to look professional – success will be about creating professional and well-considered content. If it is about brand awareness – success will be increased reach on social media and traffic to your website monitored by Google Analytics. If it is about sales – success will be increased calls/emails into your business, or it might be retention – success will be long-term client.

Think, what does success look like to you? So where should you start… Read on.

Metrics

What to measure?

Metrics are considered one of the weakest areas for SME’s. Only 27% of SME’s set clear objectives for marketing services and so if you don’t have this, you haven’t got anything to work toward and so why would you bother measuring?

If this is you, you are most likely wasting your precious time and money. Sorry. You need to put into place solid measurements to put you in control.

You choose the metrics based on the activities you are doing and what you want to achieve. For example, you are running social media advertising to drive traffic to your website to get more people to book a consultation with you. You need to measure the reach of your ad, the increase of new visitors to your website, the clicks on the consultation form and how many people have actually booked consultations in that period, and ask those people how they found you. This is the minimum. If you have a goal for this, say, 5 people in a month, you can then start to understand how much of your budget you need to spend, etc.

Measurements and analytics aren’t the only important metric. A lot of great and insightful information can be gathered from your customers. Like we mentioned before; how did they find you? And how easy was the process of finding and getting in touch with your business? Knowing these key aspects can help you refine your marketing strategy to increase efficiency, effectiveness and conversions.

Keep it simple, start by tracking your new customers on a spreadsheet and identifying where they came from.

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Marketing Strategy

SME’s and marketing strategies don’t tend to go hand in hand, with just 33% stating they have a marketing action plan – meaning two-thirds of SMEs will have no way of detailing how their marketing efforts will contribute to achieving their goals.

Once you have a marketing strategy in place, it is important to remember that nothing is set in stone. A marketing plan can be adjusted and tweaked to try out new strategies. As you receive more information and analytics, you can adapt your strategy towards what is working and away from what isn’t.

Here are some key points all marketing strategies should contain:

  • Clear Objectives: Find your ultimate goal, and define steps backwards towards where your business currently stands. This will set out a clear path towards where you want to be.
  • Analysis: Once you start a marketing campaign, analyse the data you receive and pinpoint where your efforts are working and where they are not.
  • Adaptability: Marketing strategies can be planned and analysed, but that won’t mean you will get the perfect results with your first try. Allow your marketing strategy to adapt based on your analytics.

Target Audience

A defined target audience can be one of the most important aspects of your marketing strategy. You need to clearly define what type of customer is the most beneficial for your business and seek ways to attract them to your services or products.

To get a handle on your target audience, ask yourself these questions:

  • Do you know who you are targeting?
  • Do you know who your current customers are?
  • Are these the same?
  • Are you confused between the two?

You are on the right track if your current customers are exactly who you are targeting. But is your customer base the ideal clientele for your business?

To define your perfect customer, think about these 3 aspects:

  • Repeat business: Will this type of customer likely need your services again in the future?
  • Time consumption: How long will it take to deliver these services to this customer?
  • Location: Will the location of these customers impact your timeliness or quality of service?

If your target audience is poorly defined, you may be missing out on more gainful and fulfilling opportunities.

Rediscover Marketing

No matter the size of your business or the scope of your goals and ambitions, marketing can excel your business to greater heights if implemented in an efficient and targeted manner.

We mentioned our discovery process earlier on, if this is something you would be interested to discuss more with us, let us know and we can tell you more about it during a free consultation.

Source: https://www.themarketingcentre.com/blog/marketing-maturity-in-2024

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Written by Lydia Mckeown

Marketing Director

Lydia founded I Do Marketing in 2016 and has chartered marketer status. Lydia acts as a Marketing Director for a select few of our clients and works with the team on the client’s strategies. She does lots of consultations with new clients and runs our discovery sessions. She also writes client marketing plans and strategy which feeds into all of the marketing we produce or plan for our clients.

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