11 Questions to think about before spending a marketing dollar

by Tony Vidler
When advisers are about marketing they all too often focus on what tactics to pursue. This approach often results in disappointment as the marketing results fall short of expectations.
The problem is the expectations were not thought about strategically, and the expectations were optimistically vague at best. Tactics are action-oriented….they are activities that you do in order to achieve a strategic objective.
Beginning marketing planning by focussing on tactics is like buying luggage and then deciding on what sort of trip you are going on. If I bought a really cool mountaineers backpack which converts into an igloo on demand, because it seemed a good idea at the time and it was a bargain, it isn’t necessarily going to be the best luggage I could have bought for a luxury cruise around the pacific islands is it?
Similarly, buying a radio advertising package or spending enormous effort on building a Facebook page, might not be optimal marketing investments. In themselves they can produce wonderful results for some businesses and target markets….just maybe not yours.
Thinking strategically about your marketing objectives helps identify the tactics which are most likely to produce the results you want or need. The big questions that will help clarify the strategic objectives are:
Think first about what you are trying to achieve from your marketing efforts in the larger sense – your purpose; your promise; your capacity issues; understanding what is profitable; and; knowing how you will measure success.
From there it is pretty easy to analyse the merits of the various tactics which are available to you. It becomes easy to work out whether that radio advertising, or Facebook page, or whatever, are likely to generate the types of results you want from your marketing budget and efforts.
Think first. Then act decisively by applying the right resources to the right ideas.
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