posted by Accounts
A savvy CMO or marketing manager regularly audits their marketing plan to make sure they are on track, evaluate for success and establish future goals. The halfway point of the year is a great time to revisit your marketing efforts because of the summer slowdown that many industries experience.
As you reflect on your plan, ask these questions:
How has the recession affected sales within the first six months of the year? Was the effect better, worse or as expected?
During your mid-year audit, look at your sales and consider the contributing factors. Was the success due to a recent ad campaign or social media application? If a recent campaign or tactic was successful, how can you build on that momentum in other areas? If something was not as successful as you hoped, consider adjusting your messages and communication efforts to offset these affects.
How have new markets, products, incentives and more shaped up so far in 2010?
Thinking strategically about your company’s market position is critical to your marketing communications. If you haven’t made as much progress in new markets as you hoped, think of ways to improve your approach. You may want to alter your incentives program, market research activities or choice of communication channels.
Were new marketing technologies implemented?
As you know, marketing will always be an evolving industry. This year, we have seen new developments such as Facebook’s new open graph API, Apple’s iPad, more mobile websites and the increased usage on geosocial networks like Foursquare. Research these new technologies and see where they can be included in your marketing plan.
What projects have been postponed that need to accomplished before the year’s end?
The review process allows you to see what goals have been accomplished or pushed to the wayside. With less than six months left in the year, you need to create hard deadlines for your team. You might even want to consider smaller milestones to make the larger goals more attainable. For goals with earlier deadlines, adjust them to reflect this time of the year.
It’s very important to spend time realigning sales and marketing priorities for your business. Doing so will allow your marketing plan to be much more effective. With a renewed marketing approach, you will also be able to implement strategies and tactics that may have been on the backburner or have not been developed.
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