When the owner of a group of quick change oil stores wanted to reconsider how they market themselves, the first question I asked was, what does success look like and do you have a marketing report card?
How will they measure the change in the short, medium and long-term? What metrics will they use to keep score?
Hint: You can’t say I’ll feel it in my gut. That doesn’t count as a metric.
How would any business know to keep moving along a new path?
Are sales alone the best indicant of success? How about improved margins? What about increased traffic visiting your shops? Does improved awareness or trust give you the confidence to keep investing in a new marketing approach?
A Marketing Report Card
If your brand is struggling to grow, you have to dig deep into the problem to understand why your share is of the market is slipping.
- It could be pricing.
- It could be the products you offer.
- It could be a terrible service.
- It could be that some other business is serving their needs.
- It could be awareness.
- Or, it could be the increased competition that is doing a better job of serving the market.
What Does Success Look Like?
A brand has to start with answering this question before it invests in a new marketing campaign or activity.
Failing to have some measurement in place is like playing a game without keeping score. It might be fun – but how will you know if you have won or lost?
Think of it this way – if your child is struggling in math and you hire a tutor, how will you know that the tutor has been effective? Your business is the same. If you hire a new marketing agency to support your brand, how will you know they are helping you make the grade?
It is time to keep score.
Want to get an A in marketing? Connect with me so we can study together and ace the test! 919 720 0995.
Photo credit: https://www.flickr.com/photos/cat-sidh/with/419065141/
