One of our greatest challenges as marketers is selling the value of “marketing” to our non-marketing business executives.
Since many of the executives of small to mid-market companies view marketing as an expense instead of an investment, it’s challenging to gain their buy-in for our ideas, and to get budget approval for our campaigns.
One way to attempt to gain their buy-in is to provide them with detailed marketing campaign plans for each campaign — plans that outline the business case and projected return on investment before you run the campaign, along with updates to key metrics as the campaign progresses.
Marketing Campaign Validation Steps
Campaign outcomes are difficult to predict. There are so many variables which affect any campaign’s final result:
Sophisticated marketers gain an understanding of how all of these work together through experience and have a good feel for how to design a high-performing campaign.
To gain this experience, create a detailed campaign plan before running any marketing campaign. Thinking through all of these key elements and putting numbers into spreadsheets to project campaign ROI will increase your likelihood of running a successful campaign.
Every marketing campaign should tie into defined business goals. By now, almost everyone’s jumped into social media, but how many have done so with a clear understanding of how these activities will impact their top and bottom lines?
Instead of trying the marketing “trend of the day” and hoping for success, clearly define your business goals and match them to your campaign strategy before building out your campaign plan.
This is typically the first deliverable in each of the marketing campaign media subjects in the Marketing MO app.
Your campaign plan ensures that you’ve thought through all of the tough questions. Whether you’re using search marketing, social media, traditional media, online media, email marketing, events, publicity, telemarketing or direct mail, your campaign will outline your:
Projecting your marketing campaign ROI forces you to think through the costs of all campaign elements and the net results they’ll produce – the number of customers, total revenue and profit generated. Projecting your return on investment is never 100% accurate, and sometimes very difficult, but completing the exercise enables you to understand the key components of the campaign and the targets you need to hit.
The more often you project campaign ROI, the better you’ll get at projecting realistic results.
For most types of campaigns, you can test different elements on a smaller scale before launching the entire campaign. Testing enables you to make sure fulfillment and technology works, and also allows you to gain feedback on key components such as:
Sophisticated marketers know that testing is an important part of optimizing any campaign.
If you projected your ROI before running your campaign, then measuring your actual ROI after the campaign completion isn’t difficult. Simply track down the actual numbers for each line item, add any additional costs, and see how well you performed.
It’s not uncommon to have large variances between your projected ROI and actual ROI. To reduce this over time, research the key areas that created the variance and seek to understand what caused them.
By validating your campaign “expenses” to your colleagues, you’ll educate them about your craft and allow them to understand the complexities of our work in marketing. Hopefully, they’ll begin to view marketing more strategically.
Best of all, you’ll gain their respect by communicating in the business language that they use with their other colleagues.
EVERYTHING YOU NEED FOR YOUR MARKETING PROJECT