For many small business owners, their business marketing strategy is an afterthought – if there is a strategy in place at all. Marketing for these businesses is a haphazard approach at best – something that they do if they have the time between the day to day running of other aspects of their business.
It shouldn’t be this way. Business marketing strategy, as a solution for driving sales, should be front and centre in all decision making processes. It should be front of mind and be considered before anything else in your business. Without a business marketing strategy you will unlikely find you get many leads and your business will struggle to thrive.
Business Marketing Strategy – What to measure.
Part of any business marketing strategy should be measuring and tracking results. Here are some of the things you should be measuring (at a very minimum.)
No of leads generated and where they come from – Without leads, without someone interested in potentially buying your product or service, you won’t make any money. Any business marketing strategy should involve a number of different marketing channels and measuring the effectiveness of these channels. This means that your strategy should identify how many leads are generated and where they came from. You should then concentrate your efforts on those that generate you the most leads.
Total qualified leads – A word of caution though. Not all leads are created equally. You need to qualify the leads that are generated and you should measure the total number of qualified leads you generate. Your business marketing strategy should also identify those marketing channels that produce your most qualified marketing leads.
Average percentage of leads closed – Finally, your business marketing strategy should identify the average percentage of leads closed and tracked whether there are different close rates for different channels.
Your business marketing strategy doesn’t need to be complex but it does need to exist. You need to have a strategy in place that includes measurable goals and you need to be tracking results to ensure your success. If you are still unsure or if you would like help with the implementation of your business marketing strategy, get in touch today.