Marketing

Early 2016 Is the Best Time to Review Your Marketing Strategy

Where has the time gone?! We’re almost two full months into 2016! Coming up to the close of the first quarter, it’s time to review your marketing goals. Has your marketing strategy put in two months of work for you? To get started, let’s walk back through my original steps of marketing strategy development:

  1. Analyze your current situation.

Summarize your current situation with a SWOT analysis. Conduct a thorough review of your company’s strengths, weaknesses, opportunities, and threats. Has anything changed since your last SWOT analysis? Namely, where have you made improvements and where are you still struggling? Create a plan to attack those continued weaknesses and threats. But don’t lose sight of the progress you’ve made in other areas – keep it going!

  1. Reassess your target audience.

Are you reaching the right people? Is there another marketing method that would better attract and retain your audience? Specifically, consider how any changes you are making in step 1 need to be accommodated. 

  1. Review (and possibly reset) 2016 goals.

Are you on track to meet your quarterly goals? Based on your SWOT analysis, do your original goals make sense? Consider what, if any, adjustments need to be made based on your results to date and the influence your current marketing strategy has on your audience.

  1. Assess the strength of your marketing tactics.

Have your marketing tactics reached your audience? Specifically conduct a cost-benefit analysis of each tactic. What is your ROI? Don’t forget, time is money! If you find something isn’t quite working – consider the why. This may be the perfect time to call in a marketing consultant. 

  1. Review your budget.

First – are you actually sticking to your marketing budget? 😉 Or better yet, have you not taken full advantage of the funds you’ve set aside for marketing? Your budget is an easy thing to track on a quarterly basis, so do a quick review to see where you are at! Don’t have one? Start here!   Haven’t started your 2016 marketing strategy yet? It’s never too late! Check out my original blog and get started today. 

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