Transform your Business Now!

Is your company fully embracing the digital age? Is your team engaging digital transformation beyond updating your website every 6 months? For several companies, failure to adapt to new technology means getting left behind and losing business. Your prospects and customers are researching and buying online, so why aren’t you that specialize in marketing to them via digital channels?

Ask any millennial about Kodak and that they will struggle to inform you more about what it does. For several folks, however, Kodak was a household brand and a former heavyweight within the analog film business. Kodak not only missed the boat on digital but also acutely misunderstood the ways consumers wanted to be engaged, interact with their photos, and therefore the technologies involved. As a result, Kodak filed for bankruptcy in 2012.

For companies like Kodak, to remain in business, they're forced to form desperate cut measures starting with employee layoffs. Often, these layoffs start from traditional cost centers love it, Human Resources, and Marketing. During layoffs planning, the corporate looks at departments that are unable to prove return on investment (ROI) and are adding to the value of running a corporation.

When the marketing department gets downsized, it is often difficult for marketers like us to simply accept. After all, marketing has always been responsible for bringing the merchandise to plug. The truth for many marketing departments is that they need an extended list of complex strategies influenced by a mixture of internal and external stakeholders. We are caught up with a number of business functions like increasing brand awareness, product adoption & pipeline creation, leading to being tied down with more projects than we will handle, which suggests proving the ROI can get left behind.

But how does one know what’s working for your business if you can’t measure the effectiveness of your marketing campaigns?

Let’s compare this outlook with the sales division, which operates under a continuing sense of urgency because they're always working to satisfy a predetermined sales quota. This sense of urgency is exacerbated by the very fact that their compensation is tied to meeting or exceeding those quotas. This provides them an unprecedented sense of focus around measuring their results and reviewing their strategies.

There’s no reason why marketing can’t work towards targets within the same way sales does.

Work Out What to Focus On

In order for marketing to be empowered as a function, we'd like to chop out the noise and confusion which will make it difficult to specialize in objectives that matter the most; people who ultimately drive sales and prove ROI. At a high level, these objectives should address the highest of the Funnel (TOFU), Middle of the Funnel (MOFU), and Bottom of the Funnel (BOFU):

· TOFU -- If you would like to extend traffic to your website, utilize tactics like blogging, program Optimization & Social Media

· MOFU -- While blogs are very effective at bringing visitors to your website, they won’t assist you to qualify prospects or make a purchase. To show visitors into leads, MOFU tactics like e-book offers & webinars will assist you to get there

· BOFU -- By the time a lead reaches rock bottom of the funnel, they're able to buy and therefore the only question is who they're going to buy from. This is often the prospect for marketers to feature more qualified opportunities to the sales pipeline by using tactics like lead nurturing through email marketing & case studies

Once these objectives are top-of-mind, the marketing department can devise a technique that turns them from a price center into a profit center, fully capable of explaining results and impacting the company’s growth.

Set SMART Marketing Goals

To do all that, we first got to develop measurable goals that leave strategy changes and reviews along the way. Measurable goals also help us prove how effective we are and spur on improvement.

However, goals are useless if they are not realistic. That's why it is important to line SMART goals. Here’s how you'll set a sensible goal:

· Specific -- Set real numbers with real deadlines

· Measurable -- confirm you'll track your goals

· Attainable -- Work towards a goal that's challenging but attainable

· Realistic -- Be honest with yourself, including what your team can or cannot do. Address the challenges which may come up

· Time-bound -- Give yourself a deadline, “sometime down the road” isn't specific enough

Designate has consistently increased conversion rates for its clients by engaging the most sophisticated metrics and tools to acquire, engage, and convert target audiences across domains. Get in touch to know how we can boost your ROIs.

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