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8 Ways to Build Quantifiable Programs for 2008
No matter when your fiscal year begins, planning for the new year is often accompanied by grandiose plans for a bigger, better, bolder next year. . .
The big dreams. . . The lessons learned. . . The incredible intentions. . . The . . . budget. . .
The budget brings us back to reality. But reality is a good place to start with marketing program planning for 2008. As we forge ahead, we look back at opportunities that may have been missed, the future possibilities, the lessons learned in the previous year, and we consider where to spend our marketing dollars. Read on for helpful tips for building a quantifiable marketing plan for 2008 and beyond.
- Evaluate the Past
There's no way to establish quantifiable marketing metrics without objectively looking at the ROI of the previous year. What worked in 2007 or before? What didn't work, and why didn't it? There are programs you'll want to continue, programs you'll want to modify and programs you'll want to discontinue.
It's essential to understand why the less-than-stellar programs didn't work. Rather than determining that, "advertising doesn't work for us," for example, determine what went wrong with your advertising strategy. Was it the wrong outlets? Was the message off? Maybe you drove would-be-purchasers to a web site or promotion that turned them away. Not all programs work in all verticals. Sometimes this takes trial and error, but you need to learn from the errors, as well as the success.
Avoid blind replacement strategies. If you don't understand why programs fall short, you stand a good shot of experiencing the same problems by simply ditching your advertising strategy for direct mail, for example. The big picture is important. An ROI-driven, holistic marketing plan will take that into consideration. There's no substitute for program evaluation.
- Get a Handle on the Present & the Future
No matter what you're doing in tech, your industry is probably not the same today as it was two years ago. Or as it will be in two years. Get a handle on market shifts. It's not good enough to build a marketing plan that would have worked in 2006. Ask some hard questions:
- What's different about your market since last year?
- What's different about how your audience responds and how they get their information on your industry?
- What's different about your offerings, or the audience's perception of those offerings?
- What's your recipe for success: Social media, conversational marketing, traditional media or a combination?
Marketers have never before had so many options. Use them wisely.
- Understand the Competition
Competitive program research is a prerequisite for a rock solid long-range plan. What tools are your competitors using, and to what degree are they successful? Find out what your prospects and clients are saying about your competitors, their message and their visibility. If the people on the front lines with your clients have good relationships with them, ask them to share the feedback.
This doesn't mean you should attempt to carbon copy your competitors. Nor does it mean you need to match better-funded budgets dollar for dollar. But this analysis will help you understand how the market is responding, and what you should do to influence it. Creative options abound, but only when you have good information.
- Consider Milestones
Marketing maximizes its budget when we plan around milestones. Major industry events such as tradeshows and conferences are ideal opportunities to make announcements, roll out products, etc. These milestones must be taken into account when considering how and where programs will fall throughout the calendar year. Internal milestones such as user conferences and company achievements should also be seriously considered.
Big events and announcements require ramp-up time. Make sure your project management takes into account all deliverables along the way, including approvals, contributions of clients and partners, etc. When in doubt, allocate more time. Rushing can lead to muted program impact and missed opportunities. And after all, that's what we're trying to avoid.
- Synergy for Maximum ROI
Marketing programs must work together for maximum ROI. They aren't islands unto themselves. Themes must carry throughout all touch points, from advertising, to direct mail to your web site to the experience each prospect or client has with your sales and customer care teams. Ongoing programs must dovetail and feed other programs to keep the pipeline full, from first contact to close. The only way to ensure marketing's role is with long-range planning.
- Think Proactively
It's easy to fall into a reactionary trap. But this is where marketing is least effective, at least as part of a long-term strategy. Make 2008 the year to stop saying, "we should have capitalized on _______ ."
Now is the time to identify those "should haves," especially if you watched them pass by in previous years. While we can't do everything we'd like to be able to do, we can still identify all viable opportunities and make well informed decisions about where to spend our dollars.
- Be Flexible
Despite the importance of planning and discipline in sticking with the objectives and tactics you've laid out, it's important to be flexible when necessary. Key partner relationships, R&D changes, major client announcements, the whim of a CEO, a crisis and other unexpected developments will change even the best laid plans. Know when it makes sense to modify your course to get a better ROI, while still providing care and feeding for ongoing programs. And don't beat yourself up about having to change directions if it's for a greater impact.
- Commit to Improving Quantification in 2008
That's what we're all about at Q2. For tips on how to do that, check out:
Four Essential Tips for Building Quantifiable Marketing Programs
Six Tips for Establishing a Formal Measurement Process
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Q2 Marketing Tradeshow Training & Certification Program
 Q2 Marketing can help you make the most of your tradeshow investment with the Q2 Tradeshow Training & Certification Program. We'll help you create a team of certified pros within your organization trained in most effectively working a tradeshow booth, and demonstrating your solutions and offerings.
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"I've been in tech marketing for years, but I'm new to the primary industry we serve. How do I determine what does and does not work in a new industry?"
In addition to the tips mentioned in this month's feature article, including understanding what has and has not worked in the past, and knowing what your competitors are doing, you'll need to put a toe in the water. Determining best-fit programs in a new industry will take some trial and error. But make sure you do this in a phased manner.
In other words, don't launch a full scale campaign based on a hunch. Execute a phased campaign and test your mediums and message. Project results based on your past experiences in other industries. Then measure the actual results against these benchmarks to determine the success of each campaign. Modify accordingly.
Have a question for the expert?
Got questions about implementing quantification across your programs? Experiencing challenges establishing measurement processes or getting management buy in? Send your questions to Pamela Girardin, President at Qspot@Q2marketing.com.
Q2 Marketing is an integrated marketing communications agency focused on the Washington DC region's B2B and B2G technology market. With qualified programs, the company is committed to ensuring clients spend their marketing dollars in the best ways, thereby reducing marketing risks. Q2 capitalizes on the synergy of client partnerships and their own market differentiators to drive revenue, bridging the divide between client need and agency delivery. With quantified results, Q2 is committed to establishing measurable metrics based on best practices—becoming an indispensable resource for clients.
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Q2 can help you:
- Create ROI-driven marketing strategies
- Deploy programs that drive your bottom line
- Establish a formal marketing measurement process
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