Whether you own a small business or a multinational corporation, you have to have a solid marketing plan. Your marketing performance management strategy must have three key goals to be effective.
1. Set Clear Goals
Your marketing can’t work if you don’t know what you want it to do. Set a specific desired outcome. For example, should your marketing strategy result in new customers? If so, how many? Set a clear goal and build a marketing plan that can achieve it.
2. Measure Effectiveness
Don’t just assume that a well-planned strategy will work. Good marketing performance management ensures that the strategies you are using are actually achieving the results you want. You need a way to measure all marketing avenues:
- Word of mouth
- Digital marketing
- Brand management
- Paid advertising
Even low-cost marketing plans take time and effort to enact. Make sure your resources aren’t being wasted.
3. Tweak Your Plan
If your marketing performance management tests reveal that what you are doing is not accomplishing the result you want, change your strategy. This requires well-informed contingency plans. Change what you are doing to get the outcome you want.
The marketing efforts you make should ultimately serve to improve your business and help you reach your goals for growth. Having a solid plan and a way to measure and adapt it is vital.