Marketing is a key support function in sales. For some companies, pumping the majority of their budget into marketing is a no-brainer. For others, it may be difficult to wrap their heads around quantifying marketing efforts.
Do you work for a company with a great product with a market fit that could be performing better?
The first step to figuring out the problem is to do a quick gut check. Are you having trouble with lead generation? Is your sales team constantly doing outbound sales?
The good news is you’re not alone. If you’re have having trouble with your sales funnel, it might be worth investigating your marketing efforts.
If you’re looking to onboard a marketing consultant, they can also help with identifying some of these problems.
Once you’ve identified that marketing is the problem. It’s always best to understand why it’s being overlooked. There could be multiple reasons. These seem to be the three most common.
1. Lack of budget: For smaller businesses, capital isn’t always available. Although you have to pay to play in the world of search and ad buying, there is the opportunity to produce quality content without having to break the bank. In the end you can buy as many ads as you would like but if the content isn’t compelling, nobody will pay attention to you.
How marketing can help: Organic social content (content on websites that helps inform your audience through the use of keywords) is where your marketing specialist can get creative and converse with your target audience. Your website and social platforms should educate them. Give them a reason to revisit your website. The more information you can offer, the more likely a user will revisit your website and potentially convert.
2.Don’t see the value: There are small business owners who can’t wrap their heads around the value of marketing. Instead they may have reinvested the money into research and development. Or, they have been in business for years with a local presence and loyal customer base.
These reasons are normal and, understandable. But- if their objective is to increase their customer base, they might want to rethink their growth strategies. At the end of the day, a company can have an amazing product but if it’s not marketed properly, it won’t sell.
Companies can arm themselves with the highest performing sales teams but, if the prospect client doesn’t understand the brand, they will be less likely to convert.
How to measure marketing performance: Google analytics is your friend. If your organization is performance driven, that’s okay! Marketing is meant to help support the performance of the sales team to generate more leads.
Google Analytics is a dashboarding tool that can track where leads come from based on your campaigns. They can trace your leads based on geography, mobile device and social platform. Having this type of data will help make decisions on where your marketing efforts are best spent to help increase sales.
If you are going to be evaluating the performance of your marketing team you also have to make sure that clear objectives are being set. This is also a common mistake organizations often make when executing a marketing strategy.
3.Unclear objectives: Unclear objectives can impact performance. If there isn’t a road map of what your campaign is trying to achieve, it will be difficult to evaluate the marketing performance.
There are small businesses who have posted content for the sake of letting their audiences know that they exist. Companies who haven’t taken the time to develop a strategy to engage their audience will have a hard time justifying their marketing efforts because they haven’t seen the results they were expecting.
How to set objectives: marketing objectives need to be clear and consistent throughout the campaign. How you evaluate performance must be established before the campaign launches.
If you’re budgeting for marketing, establishing reasonable KPIs is important to being successful. That way, there aren’t any surprises between the executive team and marketing departments.
How are you working with your marketing teams to be successful? Leave a comment below!