Failing to Execute Marketing Plans – Mistake 2

In the last post we covered how to setup a marketing plan and create goals to help you achieve success. That is the crucial first step that is required before any marketing dollars are spent. The next part is executing the plan in a way that enables you to meet your return on investment (ROI) goals. This is not a passive process (“I’ll go start some advertising and then sit back as the sales come rolling in”), you have to stay involved throughout to maximize your budget.

From Planning to Execution

For larger companies, the people doing the planning (managers) and the people executing (analysts/coordinators) are usually different. In this case it is important for the management team to outline clear processes for the marketing team to use when implementing their ideas. After creating a plan, schedule training time and a followup after a short period of time has passed to ensure procedures are being followed. The staff will probably appreciate the feedback as well.

For smaller business with less resources, separate the tasks into: 1. items you can handle yourself 2. items you can outsource. Then find the necessary resources/staff to manage the items from the latter. Follow the same procedures as the larger companies by following up with your hired help be it agency or staff to make sure your plans are being executed per your vision and goals.

Now Comes the Testing

Now that you’ve got your marketing in action, you need to see if it’s working. Find a way to assign a dollar amount to your marketing efforts and then figure out if the method you are using to promote your business is profitable. If every dollar you spend isn’t earning you more than $1.01 then you need to change things. Avoid the common mistake of running the marketing campaigns solely based on available budget. Think of it instead as an investment. You have to regularly monitor, measure, analyze your marketing investment portfolio like you would your stocks and bonds. If something isn’t working you need to change it.

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Related Post:  4 Marketing Mistakes You Might Be Making – Part 1