There is a problem with marketing
Marketing is an investment in future results. The investment risk can be uncomfortable. What if you don’t get the results? You have still invested the time/money.
If you are doing your own marketing, the uncertainty makes it easy to switch to doing something with more definite, short-term, value. As a result, your marketing ends at the bottom of your ‘to-do’ list
The answer to this dilemma to get someone else to do it! This delegates the responsibility for success – but you probably still have to pay your supplier! What if they don’t deliver?
OK, let’s make sure they are engaged to do something tangible, that you can measure. Fine, but there is still a problem. These ‘tangible’ things (maybe building a website, designing a brochure, doing telemarketing calls) can be measured but none guarantees marketing results, they just make those results more likely – hopefully!
Effective marketing is still an investment in future results so, by definition, can’t be pre-ordained! The circle of frustration goes around again.
There is no getting away from the fact that marketing is speculative. The best we can do is manage the marketing process to minimise the downside and maximise the upside. Some marketing activity will work and some won’t. Let’s accept this then focus on minimising the negative and maximising the positive. To do this we need reliable data on which we can make decisions.
Analytics – your ace in the hole
In 2019, pretty much everything is measured. Controlling and using data showing how people use the internet is the power behind many of the tech giants. The beauty of the internet and IT is that much of this data is available to you too. The issue is knowing how to use it.
If you start delving into analytics it is easy to become overwhelmed with data. There is just so much of it! Individual analytics numbers can be taken out of context leading to knee-jerk reactions and a very disjointed approach to marketing.
Often the problem can start because a business owner hasn’t really considered how they want the data to help them in their business.
I want more sales. I want my business to grow and succeed!
OK, this is fine but you can only measure these in retrospect. What steps can you take to drive a business process that will lead to more sales and success? What results from these steps can you measure to indicate the process is working?
The calm approach
Here are 5 key pointers that can deliver a calm, sustainable approach.
- Have clear business-focussed goals
- Pick 3 or 4 key data-points that reflect your journey to your goals
- Keep your marketing joined-up. Things don’t happen in isolation
- The key is trends – watch change over time. Avoid knee-jerk reactions!
- Sustainable business growth is a trend too!
Let’s put this approach into a context. Over the past 20 years, I have developed a 6 stage model – CLEVQO© which demonstrates this process neatly. Maybe you could adapt it to your own business:
- Contacts – make contact with potential customers to introduce your products/services
- Leads – of your contacts, a percentage will be people who could do business with you
- Enquiries – of your leads, a percentage will show interest
- Visits – of your enquiries, a percentage will be willing to meet to discuss further
- Quotes – of your visits, a percentage will be interested to receive a quote from you.
- Orders – of your quotes, a percentage will be accepted. These orders will have an average value.
Clearly, CLEVQO© is not a complete business marketing and development model but it does address key sales development process elements and it is entirely measureable. There is nothing to stop you sitting down now and contacting some potential customers (you may not want to but that is a whole different story!)
Once you have a flow of contacts, you can measure and develop all of the rest of the process. It is entirely in your control. You might not like all the results you see but you will be in a position to do something about them.
Using analytics to inform a logical, structured business process gives you control to make it succeed.
To find out more how CLEVQO© can work in your business, do get in touch