Time to Dig in or Throw it in?
All marketing strategies need time to yield results, some need longer than others and a bit of extra funding down the line to really get the cut through you want, but how do you know if your campaign isn’t going to work and it’s time to chuck in the towel?
When you’re not getting the results you want or achieving the goals your campaign was meant to accomplish you are faced with a decision; dig in or throw it in. You don’t want to throw good money after bad though so you need to think hard about pulling the plug. There will be signs that your campaign isn’t working and it’s time to move on, here are the top four.
Advertising is costing you money
Marketing is supposed to earn you money, not cost you it. A great campaign will increase your turnover and reward you with a healthy return on investment. It will not only gain you more customers but it will save you money by saving your employees time.
A successful marketing strategy should put pre-qualified and cash-ready customers at the feet of your employees and all they need to do is seal the deal. The quicker they can close their customers the bigger your profit margin on that sale.
If you’re pouring money in to your campaign and what’s coming in isn’t covering what you’re shelling out then it might be time to cut your losses.
Social media is one of the best barometers for the success of a campaign. The amount of likes, followers, subscribers, shares and retweets you earn is testament to your social media content strategy; if it’s high, you should be seeing a return on investment, if it’s low then you need to go back to the drawing board.
Your social media campaign should see you posting engaging content regularly that makes a strong first impression to new visitors and keeps existing customers interested. Poorly maintained social media sends out the wrong message so if you’re not posting relevant content at least once per day and actively engaging with your audience then it might be time to dig in and see what results are yielded once you put your back into your social channels.
Social media is a vital part of keeping your customers engaged but it’s also really important for Search Engine Optimisation.
Okay, you’re in the middle of your campaign and you head over to Google and search for your company…you’re not on the first page. Epic fail! Your campaign strategy is sucking bad. If you are creating unique content and your marketing strategy has been designed by people who genuinely know your business then you should be on the first page.
Investing in a specialist SEO company to keyword the heck out of your website isn’t the way to go. Perhaps it is time to ditch the current campaign and go with something else but at the very least what you need to do is focus on some Search Engine Optimisation, specifically targets at the areas around you.
Lack of customer feedback
If you spent thousands of dollars on an advertising strategy you expect your new customers to tell you they heard about you in your paper/radio/Facebook ad. It may be that your new customers are coming to you some other way than via your advertising strategy and that’s a clear sign that you’re wasting your money.
Patience might be a virtue and many marketing strategies do take some time to be effective but if you aren’t seeing your marketing dollars working for you a few months after spending them then it’s probably time to throw it in.