Marketing Strategy Value Analysis

by May 12, 2020

Time: Your Most Valuable Resource

Downtime creates opportunities for reflection, and it allows for change. If digital marketing has been a low priority because of demands in other areas of the business, now may be a good time to review your plans and progress. It could also be the perfect time to make adjustments to your plans and budget going forward. Prioritize your efforts collectively through collaboration and involvement, making sure everyone is aware of the priorities. A calendar or timetable is the best planning tool. Set your goals or milestones, assign responsibility, and allocate resources to ensure success.

Examine Your Campaigns

Review all your marketing campaigns (digital and not). Then, answer these 5 questions to begin your marketing checkup.

  • Time to rebalance? Take a moment to look at the elements of your marketing efforts and conduct a campaign review. What’s the balance between digital marketing and other activities?
  • Is research needed? Evaluate competitors on at least two levels: their products, and on the strength and intent of their marketing efforts.
  • Have you been neglecting business cases, budget requests, or campaign plans? If any of these impede progress, prioritize, and move forward.
  • Is each element working for you? Does your messaging resonate with your audience? Do you have enough content to satisfy the requirements of your buyer’s journey? Are your graphic elements relevant and appealing?
  • If you are using video (and you should if you aren’t), is it the best it can be? Great video begins with tight scripting, supported with detailed storyboarding.

Narrow Your Focus On Digital Marketing

Next, narrow your focus on the elements of your digital marketing strategy and campaigns.

  • Are your current marketing efforts getting you the results you expect? Address changes in the buying environment or buyer behavior with successful digital marketing.  If it’s time for a change, apply proven practices. Examples of companies that use digital marketing techniques to their advantage can be found on numerous websites (especially those of platform vendors).
  • Are you effectively managing your budget? This means you can measure your results against clearly defined expectations. It also means you effectively communicate your plans and results internally.  If you are doing this well, your CFO is secure in the knowledge that the company is getting a good return on its marketing investment.
  • Are you prioritizing your efforts appropriately?
    • Is the website in order? If not, make it the best it can be right now, and make sure it’s updated and accurate.
    • Is your content relevant? Make a list of new topics based on current conditions.
    • Are your campaigns relevant? Mark which campaigns should be paused, revised, or scrapped.
    • Are your products in good shape and well-positioned? Identify the nagging little things that never got completed and are still needed.
    • Is the pricing/pricing model for your products and services still competitive? Problems with revenue, renewals, or margin are a red flag that you need to revise pricing and/or the pricing model.
    • Are your salespeople and distributors enabled with the most current information about your products and services? This includes digital assets, messaging, and training.
  • Is your team invested and aligned in the plans? The human element defines the level of your campaign’s success. Digital marketing requires that designers, specialists, and content providers work together to deliver a cohesive and compelling message to get your target audience through their purchase journey. People make the difference.

Don’t Forget the Website

Even if you don’t have an eCommerce function on your website, it is still the storefront of your company and should be geared towards selling your products and services. Your website should tell your story in a professional manner. It should enable access to your products and services. If it’s used to directly sell your products via eCommerce, it should do so effortlessly and seamlessly. Your graphics and videos should be inviting and entertaining. Don’t neglect your Careers page. Treat prospective employees like you would want to be treated, both in messaging as well as in the application process. HR often needs marketing support in their quest to attract and retain qualified employees.

Unexamined Efforts Can’t Be Improved

Marketing is a dynamic practice and profession, and it’s imperative to take time to check the health of your marketing program and strategy and ensure both reflect changes in the environment, changes in buyer behavior, advancements in technology (and the opportunities offered), Your program and strategy should also reflect conditions within your company environment. Question everything, because nothing is static in marketing or your markets. And never take anything for granted.

If you need assistance with a marketing review, contact us for a 30-minute consultation. We’d be glad to help.

<a href="" target="_self">Gerry Broski</a>

Gerry Broski

Born in Cleveland Ohio, Gerry has a long and colorful career working in marketing, sales and product management for tech-driven companies. He’s worked with teams and managed projects and people to successfully develop new products, penetrate new markets and generate positive results. Creative, inquisitive, and an avid reader, Gerry is now focused on using his skills and experience to help others navigate the wild world of digital marketing as a member of the FounderTraction Team.

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