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Marketing Insights

Does Your 2014 Marketing Budget Include These 3 Must-Haves?

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Predicting the future isn’t easy. If you are like me, you have been struggling with your 2014 budget for a while. The continuing slow economy in 2013 has hit marketing budgets hard, yet there are plenty of stories about companies in your industry having record sales.

Do you know what successful businesses are doing that you aren’t?

Successful businesses have 3 things in common:          

  1. They have an internet strategy targeting their best prospects
  2. They measure on-line activity weekly
  3. They adjust marketing tactics based on weekly data

I am not saying that their spending is exclusively on-line. Marketing plans are as varied as ever. Budget planning can be tedious and stressful, but the results you reap will more than make up for the investment in time.

Tracking results of your spending is common business practice. Tracking income to operating expenses are easy compared to some effects of marketing expenses. I have executed direct mail campaigns for clients who tell me repeatedly that they have customers calling from year old mailers.

Compounding the difficulty is what to do with Google analytics, how to collect more data and how to configure that into usable information along with all you have to do? Solutions are available to manage that daunting task. Hubspot is one of the companies with a robust system that not only ha a easy to read dashboard showing current monthly results of on-line activity, it also makes it easy to execute custom landing pages and blogs. The suite of tools is a big time saver. It can plot your position in relation to your competitors.

Marketing which sustains brand recognition and has customers holding onto a business card or advertisement should be every company's goal. The older ads can't be counted in the short-term results of the campaign they were part of. As a testament of connecting with the customer, they must be weighed in the tracking of which campaigns were successful and the why. 

To help you plan your budget, download our free SMART Marketing Budget Template.

DOWNLOAD FREE  Marketing Budget Template

Topics: Online Marketing, Advertising, Marketing, Business Management

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