Does Marketing Work?
Yes marketing works. But like any mission critical business process, marketing must be well planned and well managed. A professional service company spent over $100,000 on marketing in a single year with disappointing results. They were about to fire their marketing firm and asked for our help. We found that the problem was not with the marketing firm; rather, the problem was how their marketing program was being managed. It seems that company management not only delegated marketing tasks to the marketing company, they abdicated their accountability and responsibility to plan and manage the marketing function. Using a proven strategic planning process, we worked with the client and the marketing firm to develop a marketing plan based on the clients’ goals.
The plan answered these fundamental questions:
- Who is your customer? (Targeting and segmentation)
- What really matters to them? (Value proposition)
- What changes do you have to make to give them what they want? (Process improvements)
- What is your compelling message and how will you communicate it? (Advertising)
- What level of investment will you make? (Budget)
- How will you measure success? (Key performance indicators)
With the plan in place, the client, with our help, was able to effectively direct and manage the marketing firm and launched a very effective marketing campaign.
The client achieved an initial response rate of over 30% to the marketing initiatives. Two months after the campaign, revenue increased and was tracking to budget. The client continues to successfully execute the marketing strategy and plan and has launched several other successful campaigns.