Last year – and against (almost) all odds – Britain voted to leave the European Union, Leister City football club won the Premier League and Donald Trump was voted into the White House. What was the common denominator that led to their successes? Investment.
Vote Leave were awarded a smaller grant by the British Government but received over three million pounds more in campaign donations than Britain Stronger in Europe (source: The Guardian). Leister City bought less expensive players and instead invested in research, training and recovery, which saw their estimated worth almost triple after their Premiership win in May 2016 (source: BBC sports). And, in-spite of his lack of political background, Donald Trump arguably lead one of the most successful political campaigns in history, which was heavily reliant on his investment in social media promotion.
How the same principle can apply to your business
As the above demonstrates, every business needs to spend money in order to make money. But if done right, your marketing strategy doesn’t need to, and shouldn’t, cost the earth.
When it comes to spending money on marketing, it’s likely your firm is facing one of two main roadblocks:
- The marketing budget you’re spending isn’t really producing the results you want
- You aren’t in a position to spend the kind of money on effective marketing that it deserves
Streamlining your strategy and making small improvements to what you’re doing and the way you’re doing it can mean you end up paying less and getting more.
Your marketing or campaign strategy should have an expected return on investment (ROI) at the forefront. Being smart about what it is you’re investing in is the best way to ensure your ROI is met, but it’s often easier said than done.
Every firm and client is different and no one marketing strategy will fit all. In order to successfully implement an effective strategy, your business needs to track, record and tailor campaigns to find the best approach. Spending hundreds of pounds on Google Adwords won’t work if your audience isn’t browsing search engines, and promoting posts on LinkedIn won’t generate a return if your website content isn’t engaging.
At the end of the day, it’s about spending the right amount of money, in the right places and investing your time in the best way possible.
At Proper Partners we have drastically improved ROI for many businesses like yours. Let us help your firm create a lean and successful marketing strategy that facilitates stable growth and curbs unnecessary spending, giving you the tools to use in the future.