If your business is entering the world of digital marketing, then welcome. It’s never too late to start, and with today’s technology, it’s easy to learn the basics and create a marketing plan. Let’s start by considering three important factors:
- Cost
- Competitors
- KPIs
What’s your budget?
Yes, the amount you spend matters, and while a large investment doesn’t equate to a better ROI, it makes a difference. Since every situation is different, having a budget is important to determining what must be prioritized to accomplish your marketing objectives.
Who are your competitors?
Make a list of competitors of the top of your head. They can include bigger chain businesses and local small businesses near you. You’ll want to assess how they are delivering to their customers. Reading online testimonials, looking at their website copy, and even visiting their physical location can help you get a better sense of who your competitors are serving.
Then you want to look and see where you stand next to them. It is often the case that you are outperforming them in certain areas and underperforming in others. Looking at indicators individually and determining cause and effect for each will allow your business to take clear, intentional steps towards generating more conversions and revenue.
What does success look like?
Since we are looking for measurable results, we need to create quantifiable goals that can be reviewed consistently. Then we can determine whether the plan is working and make appropriate adjustments to reach those goals. These metrics we monitor are known as key performances indicators, or KPIs. Examples of this include monthly sales, monthly inquiries, cost per lead, and ROI. If you are unclear what KPIs you should be using, it is highly recommended you get a marketing plan consultation.
Solutions
After you have set a budget, identified competitors, and established clear KPI goals, you are ready to tackle solutions. Finding the right answer will not always be clear. Looking to improve your search engine rankings? One tool to consider is a blog, which can help provide answers to your customers questions. If you’re looking to increase repeat customers, maybe a newsletter to previous clients that includes a discount might be the way to go. For fast, measurable results, think about starting a Google Ads campaign.
Creating a marketing plan tailored to the needs of your business is essential to finding and attracting the customers you can best serve. Connection Marketing can create this plan with you from the very start, followed by executing it with all the needed resources. For a free consultation, contact us at [email protected] or (818) 610-1092.
