Sounds great, right? We’re all looking for the best marketing moves to make. Only it’s utter nonsense.
More importantly, it’s likely to cost you thousands, or even tens of thousands, more than bringing in someone who can address the actual issues for you. That’s because those three (or fifteen) “easy marketing moves” are just suggestions that you’ve already heard, and may have already tried. When one doesn’t work, you will be encouraged to try another, and then another.
Let’s unpack the claim before we move away from the title. The notion that marketing is “easy” is why so many business leaders don’t give much attention or budget to their marketing efforts. Marketing is not just about getting the word out about your business. And it’s much more than getting in front of the right audience too. But that doesn’t mean it is difficult. Expertise makes it easy.
I frequently hear “I just want to do social media” or “I just want to do SEO.” What these leaders are saying is “I am afraid that doing more than what I think is inexpensive will be unaffordable.” Let’s put a bit more perspective around that. Can you afford to close your business? Clearly, no business can spend limitless amounts of money on marketing – or anything else for that matter – and remain profitable. As far as saying you “just want to do [any single activity],” that is like saying “I just need an engine to build a car.”
Clearly one component is not sufficient. It’s called a marketing program because it is – or should be – more than a single channel effort. The components (tactics) in your marketing program should compliment each other and may even be designed to accomplish goals at different stages of your sales cycle. That doesn’t mean they must be costly.
In my experience, you need to have total control over the marketing budget and insight into the effectiveness of the efforts. When you have a properly constructed marketing program, the only time you would ever lose control of the budget is when you try to delay the inevitable, and end up needing to catch up or get rapid results.
Costs drive companies out of business, and your CFO is likely telling you that about every expense. However, marketing is not an area where you want to indiscriminately cut the budget. If the CFO feels your marketing budget is bloated, inefficient, or lacks profitability, it’s time to look at why, and start working with a fractional Chief Marketing Officer to ensure the profitability of your marketing program.
Marketing does not have to be expensive, and good marketing is a profit generating activity. Your Return on Investment (ROI) in marketing needs to be a minimum of 200% and preferably much higher than that if you are growing or scaling. It’s time to stop looking at marketing as a cost-center and treating it like the profit center it can and should be. That’s the only way to get better ROI from your marketing program.
Still want an easy button? Okay, Staples has one. Just press it multiple times.
Would you prefer to get faster results and learn more about what a fractional CMO can do for you? Try this blog or this page on our site. Better yet, set up a complimentary call.
