June 18, 2021
4 min read
That’s a question we hear a lot before we kick off projects with clients who have not done a lot of marketing in the past. We usually answer their question with a series of questions of our own, the first being, “How do you define ‘work?’ What are we trying to achieve with this marketing campaign? Brand awareness? Lead generation? Revenue growth?” All are worthy goals, but they all have their challenges, and some take longer than others to “work.”
A mistake many people make when they ask this question is that they have not truly defined their business goals. This mistake will hinder marketing quality because a good marketing strategy has to be aligned with a good business strategy. For example, if you want to grow revenue – most companies do – you must look at the current state of your business and then imagine where you want to be in the next three years. What will you need from marketing to make that imaginary scenario a reality?
Let’s classify some different levels of wins. Just keep in mind that every situation is different, but here is what we see commonly with our B2B clients.
Just because some of these tactics take longer than others, it doesn’t mean you shouldn’t be working on them now. I’m reminded of this adage: “The best time to plant a tree was 20 years ago. The second-best time to plant a tree is today.” A good marketing strategy looks to take advantage of quick wins while executing on mid-term tactics, all the while building positive brand associations. Only focusing on short-term tactics won’t generate long-term results.
Generating results with marketing can happen fast, but most companies who ask the question “How long does it take?” are often the ones that will require the most time to see ROI. I say this because they probably have not invested in their marketing strategy or many of the critical aspects of their marketing infrastructure that will be the keys to making their marketing “work.” But that’s OK. Taking your time in the beginning will help you go faster later.
If you want to talk about driving your revenue growth, BlueByrd is here to help. We can get your organization on the marketing fast track.
Positioning outlines why your product is unique in comparison to market alternatives, and messaging describes to your target segments what you’ll do to deliver on the promises made in your positioning statement. It is a powerful one-two punch, and you need to be able to communicate yours before you start spending money on tactics.
Properly understood, the job of a marketing department is to drive revenue for the company. Some marketers do so by building and maintaining a brand, others focus on generating new leads, and others still focus on enabling sales to close more quickly and consistently. A good company with a mature marketing department does all of these things, even if they focus on some areas more than others. But there’s one area of revenue generation where the marketing department is often relegated to a passive participant or even outright excluded: pricing.
Companies everywhere are looking to cut overhead and other costs to keep up with a changing market and an economic recession. That usually means that marketing budgets are the next to go. Much like during the pandemic, businesses will have to pivot and discover new marketing solutions to combat the economic recession, inflation, and other market changes.
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