Coordinate Your Advertising with a Marketing Strategy Reset

Do you feel like your marketing plan lacks strategy? Or perhaps you’ve been doing the same things year after year without considering if there are more effective ways to market your business. Regardless of your reason, it’s not uncommon for business owners to realize they need a marketing strategy reset to overhaul their advertising and promotional efforts. During the course of everyday business, it’s easy to get caught up in buying an advertising ad here, making a donation there, and appearing in the same publication your competitor does. But these are all isolated tactics and not part of an integrated, coordinated strategy.

How to Complete a Marketing Strategy Reset

Periodically, every business needs a marketing strategy reset that determines where all outward-facing energies are being spent and to make intentional choices about where they will be spent in the future. This opportunity for a reset makes more efficient use of advertising dollars and marketing efforts and achieves better results.

Step 1: Analyze Current Marketing Spend & Performance

To perform this reset for your business is not complicated. Start by reviewing your current plans and effectiveness.

• Create an Inventory: Gather all the outward-facing marketing expenses you have incurred in the last quarter or year. Be sure to include all costs associated with: streaming media/television, radio, print media, brochures, email campaigns, donations and sponsorships, social media advertising, loyalty rewards programs, website administration, and professional association memberships.
• Review Analytics: Use tools like Google Analytics, Facebook Insights, and email marketing reports to evaluate which campaigns and channels are driving the best ROI.
• Identify Waste: Determine where you are spending money without getting results. If a platform or campaign isn’t performing, consider reallocating funds.
• Assess Customer Acquisition Cost (CAC): Compare how much you’re spending on marketing per new customer gained. A high CAC may indicate inefficiencies in your strategy.

Step 2: Prioritize High-Return, Low-Cost Strategies

Our team at Paradux Media can help you determine which types of marketing are bringing you the biggest bang for your buck. At the same time, its important to only pick strategies that achieve results aligned with your operational goals. For example, email marketing campaigns are still highly effective and are a very affordable way to get your name and message in front of consumers. Another tremendous opportunity is to rework your website with new content, improved functionality, and modern graphics. For local businesses, optimizing their Google Business Profile is a must to attract local customers. From these results, develop a new list of marketing strategies with an estimated timeline for implementation. It’s very likely it may look different than the marketing plan you’ve been accustomed to for the last several years!

Step 3: Refine Targeting & Messaging

Of course, it’s also important to reconsider the audiences you’re trying to attract and the messages you communicate to them. We work with organizations to refine their messaging to target their intended audiences best and then deploy campaigns using mediums that are most likely to reach customers with a high propensity for conversion.

Step 4: Reallocate Budget

Now’s the time to look at all the options and allocate budget towards those that are most likely to provide you with the results you need for the current year. Be careful not to select the least expensive opportunities on the basis of low cost alone, but instead select those that will give you the most results for each dollar spent. Our team at Paradux Media can help you analyze your options and create a comprehensive marketing strategy that fits in your budget.

Why wait another day to achieve better results?

What you get for all this work is more efficient execution of your marketing and advertising goals. In some cases, you’ll save money on your advertising. In other cases, you might spend the same amount but make better choices around advertising and marketing messaging, resulting in more sales. And in nearly every case, you’ll know your brand is being executed efficiently through your marketing and advertising efforts. There’s no reason to keep implementing the same marketing strategy year after year. Contact us today to find out more about how Paradux Media can help you shake things up with a marketing strategy reset. Let’s take flight and soar past the competition to achieve your goals.