A sales person just called with an amazing offer on display space at a show, or massive savings on advertising in the next issue. It can be very tempting. But, too often decisions regarding marketing expenditure are made without the right information.
The marketing budget is limited, but there are lots of ways to spend it. You cannot back them all, but how to pick the winners?
Over the years we have found that the probability of success of any piece of marketing can be assessed in respect of the following key questions:
1. What is the Objective?
2. What is the right Audience?
3. What is the right Message?
4. What is the Medium, or mix of Media?
5. What is the right Timing?
6. What is the Budget and what Return is anticipated?
7. What is the Testing before implementation?
8. What is the process for Measurement & Review once underway?
9. How does it fit into the bigger picture, or overall strategy/plan?
Apply these questions every time you are faced with a decision as to where to allocate scare sales and marketing resources. Then let the answers guide you in selecting the right advertising, events, publicity, direct mail and other activities for your business.
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