Thanks to BornesPro Media today for their invitation to come on to the Tip Couch and provide a tip. As usual, my action-packed answer was going to keep going and going, so I had to trim it down, but for those who want the full answer, I thought I could blog the rest....
A question I often get asked with regard to marketing is “How do you know where to start?”
Unfortunately, a lot of businesses start by launching whatever program is sold to them by the most convincing salesperson who walks through their door, but that’s not always wise. A better idea is to have a marketing plan with clearly defined goals and metrics as well as a budget of time and money. That may sound daunting, but it doesn’t have to be, and it's really the first step to getting your marketing in control and actually working for you.
(Image Credit: Pixabay, rawpixel, https://pixabay.com/en/document-paper-business-chart-3268750/)
Don’t think of a “Marketing Plan” as some great tome that will test your worthiness over months of grueling research and impossible rewrites. Think of it, instead, in bite-sized chunks, starting with budget. What funds do you feel comfortable spending to message your customers and prospects? A good rule of thumb is 5% of your gross revenue.
But your time matters, too. The more time you spend, the less money you need, and the reverse is true as well. Whatever time you have for marketing – an hour a week, five hours a day or anything in between – hold yourself accountable to that time and measure the results you get from it.
Once you have your budget, develop a conversion-tracking spreadsheet to track your spending vs. your results on each channel. Then create your message points and list the steps needed to develop each channel in a Work Plan. Your budget, conversion-tracking Spreadsheet, message points and work plan are the 4 main building blocks of your marketing and what that can keep your spending in line while you test different messages across different channels. That's the best way to get started.
Tom McClintock is the owner and founder of Relationship Martech.