Stop wasting your marketing budget

01 Jun 2022  |  News
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The number of companies I see randomly throwing stuff at the wall and hoping something sticks, but having absolutely no idea what has and hasn’t worked for them, is actually quite sickening. From branded merchandise and seasonal giveaways to email campaigns and fancy new websites, the list is endless.

Granted, it may look good, but if sales haven’t increased off the back of it, or they have, but you don’t know where those sales are coming from, you’re wasting budget somewhere along the line.

Surely, if you’ve any commercial sense, you wouldn’t invest hard earned money if you didn’t know it was going to add value to your business. So, why is marketing so different?

Let’s take a new website for example. Companies can pay top dollar for an all singing, all dancing website. Hours go into making sure it’s just ‘perfect’. And then what? It just sits there. Looks pretty for a few months. The odd case study or news article might get added, but in the short, it’s stagnating.

What about the giveaways? Did anyone ever say, thanks for the Easter egg you sent me, it made me decide to give you that contract over your competitor? Probably not. It’s just chocolate at the end of the day.

The point is, I see companies investing thousands of pounds into marketing on an annual basis, but if you can’t prove they’ve ‘worked’ in terms of increasing sales, it’s a complete waste of your money and someone else’s time.

In the digital world we live in, marketers can do so much more than ‘hedge their bets’. In fact, they can be considered big brother-like.

Let’s face it, we know that 95% of the market aren’t interested in buying your product right now. When your sales guy speaks to a potential customer, chances are, they won’t be biting your hand off. So, what do you do then? Nine times out of ten, said sales guy arranges a call for six months’ time and moves swiftly on. But, within those six months, the same customer is in need for your product. Unfortunately, your sales guy is nowhere to be seen. Unlucky. You just lost the sale.

What if you were able to keep tabs on that lead, and had the heads up they were back in the market for your product? That’s the kind of shit intelligent marketing can tell you.

You just need to focus on marketing activity that provides you with data. And not the fluffy, spurious stats no-one cares about. Your last social post achieved 2,000 impressions? Who gives a damn? What does that actually mean to your bottom line?

What you want to know is WHO is in the market for your product digitally, so you can follow up with them physically. This, my friend, is the power of digital marketing, and how it can be tracked to physical sales.

Tracking helps businesses measure customer satisfaction, their brand’s identity, and their opinion of new products or services. It also provides you with the data you need to know who is in the market, as well as prove your marketing is bringing in valid leads and supporting sales. Unreportable marketing like branded notebooks are all well and good, but they’re ‘nice to haves’, they shouldn’t be the backbone of your efforts.

Marketing should be informing sales of who to ‘lookout’ for. Period.

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