Summer… the ideal time for a Marketing Review

Now that we are half way through the year it’s a good opportunity to take a little time out for a marketing review of your activities so far this year. Even if you’ve had a great first half of the year and you feel like you are achieving your marketing objectives, it’s worth conducting a brief evaluation of your marketing activities so far this year.

Marketing is an ongoing process that requires regular re-defining of your customer base – who exactly are they, where are they, what do they want, how do they want to communicate with you, and how much are they prepared to pay? A campaign that achieved great results last year may not perform so well this time, so it’s important to re-evaluate priorities and identify factors that will impact on your tactics for the second half of the year.

The benefits of regular reviews are:

  1. Find out what has and hasn’t worked – proving ROI is a common challenge for marketers as results are notoriously difficult to track. Digital activities are easier to track than offline tactics so make sure your website, PPC, email and social media analytics are regularly monitored and compared. Results should then make you re-evaluate and possibly adjust your tactics to ensure you can do more of what has worked and less of what hasn’t
  2. Refine priorities – are there any internal or external factors that have changed that will require an adjustment of your marketing activities? Have your resources changed, has there been a new service launched? Do you have new strategic partnerships in place? All of these factors will influence your tactics for the next 6 months
  3. Re-focus efforts for the second half of the year – resources need to be spent wisely and may need adjusting throughout the year. If you find that you have only achieved 20% of what you’d set out to, you will need to adjust resources to get you back on track. In addition, re-defining objectives helps focus the mind and provide renewed guidance for members of the marketing team

The half way point throughout the year is the ideal time to take stock. You should review your marketing strategy document, look at your action plan and perhaps look to re-do your SWOT analysis. A brief document detailing any changes and justifications should suffice.

If you find that you are a way off achieving your goals, here are a few suggestions to get you back on track:

  1. Consider automating or outsourcing some of your marketing activities. If you find that activities such as social media are taking up too many resources, consider a free scheduling service. Activities such as blog writing, social media, SEO, PPC can easily be outsourced to specialists
  2. Re-consider your priorities so you’re concentrating on one large project at a time. If you are working on a website re-launch it may not be the best time to launch your own series of events, if you are short on resources
  3. Re-look at your planned marketing activities and reduce those with a low ROI. Perhaps there are some that are not urgent and/or important which can be postponed to a later point in the year.

 

If you would like an unbiased, external review of your marketing activities, we’d love to help. Contact us on 01903 530787 or marketing@consortiumbiz.co.uk.