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HALF TIME! TIME TO REVIEW MARKETING

We are nearly at end of June so its a good time to review the marketing goals that you set at the beginning of the year for your business. Its nearly half time of the year but dont panic. Here are 6  questions to help you with your marketing efforts.

Half time

 

MARKETING PLAN 

What goals did you set out in your marketing plan at the beginning of the year and are you achieving them? A marketing plan is a road map for all marketing tactics throughout the year. If you don’t know where you are going, how are you going to get there? Every business should have a SMART marketing plan which should be reviewed monthly. If you have a plan that is sitting in your draw then its unlikely that you achieved your goals.  Review them weekly, starting now.

TARGET MARKET

Did you clearly identified your target market at the beginning of the year? Target market refers to people who are most likely to need your product or service. It’s a known fact that 40% of your marketing effort comes from identifying your target market, which means that you can have the best marketing plan in the world but if you have not identified your target market, then you will not be as successful at achieving your marketing goals.   Define your target market, review if you need to and set effective tactics to reach them.

MARKETING BUDGET 

Did you set a marketing budget at the beginning of the year? You have to spend money to make money but many people cut marketing budgets especially during lean times. Unfortunately what happens is that once the marketing stops, business stops coming in. You need a budget that will help your business grow. Your marketing budget is essential so dont cut it at mid year. Just review it.

MARKETING DATABASE

Did you decide to grow your client list at the beginning of the year? In order to grow your business, you should have a database of prospects and clients. You should also have a strategy to grow it. The more information you have about your target market, the easier it is to reach them. You can create simple spreadsheet using excel and that is essentially your datebase.

MARKETING COMMUNICATION

What were your marketing communications goals for the year? Is your marketing communication compelling?  Are you speaking directly to the needs and wants of your target audience? Are you speaking to their pain? Make sure your marketing communication is clear and concise. Are you using power marketing words that sell? It’s a good time to do a marketing audit and review all your marketing communication.

LEAD GENERATION 

What lead generation tactics did you set out at the beginning of the year to grow your business? What channels did you decide on?  They may have included direct mail, advertising, referral systems, word of mouth marketing, personal branding, networking, blogging, speaking engagements , column, newsletter, publicity, special events, exhibitions, tradeshows, social media, sponsorship, testimonials, seminars, search engine optimization just to mention. Did anyone of them work? Now is a good time to review what worked and what didnt.

About Author:

As seen in Business Day NewspapersRita Okoye  is the CEO of Majestically Rare. She is an international marketing consultant dedicated to helping SME’s to  grow using effective marketing methods.  She also consults and implements marketing activities and strategic corporate events for clients. She also delivers a highly successful series tagged High Business Growth Workshops and other business tailored workshops aimed at helping SME’s grow their businesses.  With over 20 years in various marketing sectors in London and Lagos, working with some of the best brands in the world, she can help you strategically grow your business for success using effective marketing methods.

Rita can be reached at rita@majesticallyrare.com

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