Time to commit
Whenever we make a commitment as people, for example a house purchase with mortgage payments, that decision has been a measured process based on our willingness to commit. We are very aware of the severity of that commitment and the implications of defaulting on the agreement. So it’s safe to say that if there is less of a penalty when you commit to something, then the less worried you are to default. After all there is no or very little consequence to your actions.
As business owners, we create a brand with services and products we want to sell. We commit our time, effort and financials to create a profitable concern that will drive our lifestyle. So our personal success comes full circle with our business in the centre, it’s the driving force for our personal aspirations in life.
In business and the commitment needed for growth, the phrase ‘when poverty comes through the door, love flies out of the window’ could not be more true. What we see is a cut in marketing spend first before anything else when things get tight. Event more surprising are the conversations I have with clients who want to decrease their marketing spend because they are too busy. This is a great ego boost on our part, after all we have been a contributor to that success, but this is not that time.
So why is your commitment in marketing for growth so important?
Marketing is the umbrella term for active awareness and promotion of your services to an audience whether new or old. This can be achieved through lots of different platforms depending on your business and lead generation, converting those leads to sales. Marketing requires a strong commitment, after all you wouldn’t go into any major commitment without a desire to make it work and business growth is the same. Like all large commitments you have to look at a long term plan rather than a short term solution. And of course sticking to your commitment required to deliver your marketing plan for growth.
Once you are happy to commit, planning and budgeting is key to successful growth. Here is a simple formula to work with:
So many times I see SMEs skip the process, or micro manage the plan based on the early results. After only a few weeks abandoning the plan due to initial results. Panic or impulsive decisions will not help you if you have planned a measured marketing campaign. You have to hold firm and be prepared to realistically manage your expectations while reporting and refining your strategy if needed. KPI’s have to be realistic and flexible, the biggest of companies rarely hit hard targets but create a soft target range that is fluid. Be prepared for your minimum expectations but equally don’t be afraid to move the targets along the way if you think a better result is achievable.
In my 20 plus years experience heavy and short campaigns like a Black Friday or event based campaign with a large budget or strategies that are planned over a period of six to 12 months minimum are the most effective in their own right. Creating your own strategies without help from a marketing professional can be hit and miss. It’s not what you do it’s the way that you do it. I know this sounds like I’m going for the pitch but the difference between a really well planned strategy and not is it’s success after all.