For many organizations, the end of the fiscal year is coming up soon. Whether you are a September 30th or calendar year-end, the approach means year-end budget reports and planning for the next fiscal year. This can be a stressful time for different departments because they need to validate your expenses and assess your goals of the previous year while justifying your proposed budget for the next year.
Your assessment and justification can be very stressful on your organization’s marketing strategy. Your marketing strategy’s goals and budget are a profitable asset, but many times they are viewed as a costly asset that needs to be done. A costly asset is one where the same strategy is executed year after year expecting increased results. To build a profitable strategy,
What does it mean to properly review a marketing strategy?
Profitable strategies start with the customer. Do you still know your customer? Has your customer’s behavior changed? How is the customer engagement different now then 12 months ago? If your organization does not know your customer, your marketing strategy is just a guessing game and becomes costly with little ROI.
Once your organization has a firm grasp of its customer, you need to review your marketing goals, how to measure the goals, and the tools used to reach the goals. This part of the review is very important. We know that the customer’s behavior changes, but so does technology. You may be using technology or digital tools that may or may not be the right tools to help reach your new goal or help build and nurture a relationship with your customer.
To ensure a profitable marketing strategy, your organization needs to ask the following questions?
- Does my CRM collect the right information from customers, so that we nurture the relationship effectively?
- Am I producing the right content on the correct social platforms?
- Has my customer shifted from one social platform to another?
- Does my analytics platform collect the right data, and does it have new features that I need to learn to collect better data?
- Am I spending money on a marketing platform that no longer meets the organization’s business goal or the customer’s need?
As you prepare your marketing strategy for the next year, you do not need to go into it with a mindset that it is a necessary evil, but, with a proper review and plan, you can turn your marketing strategy into a profitable asset. At CCC, we love to help organizations succeed through inbound marketing strategic planning, so you can increase lead generation and customer conversion. Call (301) 332-0613 and schedule a FREE phone review of your current marketing strategy and goals. We will help you get on the right path to plan your marketing strategy for the next fiscal year.
- You have different audiences that need or want your product. When writing content for social media, adapt your message on each social platform based on your audience’s everyday language. Same message but different words. By doing this, you will be able to connect more personally with each audience.
- Did you know that you can use Google’s Free Tag Manager to track phone calls from your website when a customer views your site on their mobile device? This is can help you see which product or service page gets the most phone calls on your website.