Life in general and business specifically run faster and faster every year. Every quarter brings new technologies, new competitors and, thankfully, new prospective clients. To thrive in this economic reality, your marketing has to be both strong and limber. You need to keep your MSP marketing plan on its toes. You can do this by regularly reviewing your marketing plans to ensure they’re in line with some key requirements.
The Power Of ROI
When it comes to your marketing plan, focusing on your return on investment (ROI) is an excellent way to stay on-course. You don’t have to be obsessive about ROI but using it as your yardstick helps to drive the discipline you want throughout your marketing.
The key to this rule is that calculating ROI requires having a number for the size of your investment and a number for the size or your return. This means you have to set a marketing budget and your need to measure your results in a way that can be valued in dollars.
How to Measure Results? Goals Must Be Quantifiable
When reviewing your MSP marketing plan, make sure you have not just goals but goals that can be quantified. Can you clearly judge if the goals been achieved? What does hitting your goals mean to your bottom line? How does that translate into the number of clients, number, and size of sales, reach of your products and services?
Setting Your Strategy
Each key element of your strategy should be measurable. How is each area of your strategy performing and how does it drive success in terms of achieving your goals and hitting your sales targets?
Sales ability is a muscle. To build muscles, you need to stretch and load up on the weights. Setting higher sales forecasts builds your sales muscles but don’t overload on the weight because failure can cause injury. On the other hand, realistic sales targets promote growth and build sales confidence. And well-founded confidence drives sales.
The Marketing Mix
Are you exploiting all marketing channels available to you? In today’s social-media-driven marketing world, it can feel a bit overwhelming. There can be so much to do. YouTube videos, blogs, social media channels, live streaming, events, podcasts, infographics, emails, case studies, online tutorials, search engine optimization, and paid online advertising have expanded the reach possible through traditional print media, radio, and TV. Not to mention direct mail marketing, cold calling, and conferences, all being very successful marketing strategies. However, the symbiosis possible when you integrate all these channels into an effective marketing strategy can be amazing. However, this brings us back to our primary concern: planning and reviewing your marketing plan.
Plans Aren’t Set in Stone
Don’t expect everything to go according to plan. Plans are there initially to help map out how you can achieve your goals but life changes. By regularly reviewing your MSP marketing plan, you can stay limber, keep your marketing on its toes, and when you reach an immovable object, adapt and overcome. Keep your eye on the goals, monitor your progress via ROI (and all its components), and enjoy the fruits of your success.