As summer is a slower time for most businesses, take this time to start working on your 2015 marketing budget. Here are several tips for helping you write a winning plan.
Sun, beach, shakes, smoothies, cold beer, travel, and a fully functioning air-conditioner - these are all high on my list at this time of the year. Honestly, this is what summer is all about.
However, summer is also a very quiet time in terms of business. Be it B2B or B2C, the amount of transactions drastically decline and most businesses are preparing themselves for the last push of the year - the holiday season. Some of the businesses I know generate more than 70 percent of their revenue between October and early December.
It also means that we have most probably stocked up our inventories, prepared the selling strategy and communication, and basically everything is ready for us to hit the "launch button." Great.
But the tricky part is that while we need to sell and focus on generating revenue (yes, digital marketers are sales people), track the results, and make sure that we meet our sales targets, we also need to plan for the 2015 marketing budget.
As a marketer, this issue was bothering me recently and I have researched it a lot and spent hours conceptualizing and perfecting my marketing plan. I thought that a) sharing is caring, and b), if we spend the time in the office during the summer, then we can use this to prepare and plan for next year and focus on revenue purely during the sales season. Smart, no?
So, here we go.
At this stage, you need to analyze your customers (what are they buying from you), your competition (their products and pricing), and your vendors and partners (can they provide you the input you need at the right price points?). Lastly, it is also recommended to run a SWOT analysis on your marketing.
Here are some examples for goals:
When we're looking at objectives, we need to set measurable targets with a timeline around those objectives. For example:
The next step would be to link tactics to the overall objectives, so we can hit the measurable objectives set and agreed, and here are some examples:
|Acquire||Convert||Grow & Win Back|
|SEO||E-commerce and onboarding lifecycle strategy of leads||Content|
|PPC||Home page optimization||Social|
|Social Ads||Retargeting||CRM emails|
|Banner/advertising (on- and offline)||Split- and multi-variant testing||Events (if offline)|
|PR (on- and offline)||Webinars and seminars (often B2B)|
|Affiliation||Mobile marketing (apps, also retargeting)|
|Services and client support|
Here you really need to look for the technologies and channels and link them to the right objective.
Time to set these KPIs that will enable us to see if we are on track, and measure them. Use "measure, analyze, act" as the basis of your analysis, so you're not only looking at numbers, but you actually understand them and can act upon them.
It is sometimes common to look at KPIs in terms of volume, quality value. Here are some examples for you:
Now you need to link dollars to your strategies. A good way to go about it is to link the percentage of total revenue planned/forecasted. My advice to you is that in your plan you have a month-on-month plan, where you know what you are going to spend, on which channels, and what are the campaigns you're planning to run at that time. Make sure that you always question your tactics - if your KPIs don't work toward your goals, you want to optimize your tactics, and if still it's not successful, simply drop that tactic and allocate the budget you have into a new idea.
What's left now? Think about it over a good mojito and start to do the planning. Don't forget, by the way, that you need to set appointments with vendors prior to next year.
Until next time, stay tuned.
On the heels of a fantastic event in New York City, ClickZ Live is taking the fun and learning to Toronto, June 23-25. With over 15 years' experience delivering industry-leading events, ClickZ Live offers an action-packed, educationally-focused agenda covering all aspects of digital marketing. Register today!
Want to learn more? Join us at ClickZ Live San Francisco, Aug 10-12!
Educating marketers for over 15 years, ClickZ Live brings together industry thought leaders from the largest brands and agencies to deliver the most advanced, educational digital marketing agenda. Register today and save $500!
Ohad Hecht is the chief operations officer at Emarsys and in his role he builds operations, placing and training people, assisting with customer acquisition and client management and supporting marketing across the business. With an outstanding track record of successfully starting, growing and managing a number of businesses, Ohad is an accomplished leader. He has cross-industry experience in marketing, sales, operations and manufacturing, supported by a deep understanding of digital marketing and e-commerce.
Click here to contact Ohad. Ohad is responsible for managing some of company’s highest profile international clients. Prior to joining the Emarsys, he was leading Marketing at Superfund Asset Management in Asia, and leading the global operations of luxury company, Dalumi.
With international experience acquired by living and working in Asia, Europe and the Middle-East, Ohad, holds a BA in Management and Marketing, and an M.B.A. He speaks four languages including English, German, Hebrew and Chinese. Ohad frequently speaks and visit digital marketing events, writes and publish columns in ClickZ ,Mashable and in other publications, he won the loyalty award in Marketing Magazine’s “agency of the year awards” 2014.
Gartner Magic Quadrant for Digital Commerce
This Magic Quadrant examines leading digital commerce platforms that enable organizations to build digital commerce sites. These commerce platforms facilitate purchasing transactions over the Web, and support the creation and continuing development of an online relationship with a consumer.
Paid Search in the Mobile Era
Google reports that paid search ads are currently driving 40+ million calls per month. Cost per click is increasing, paid search budgets are growing, and mobile continues to dominate. It's time to revamp old search strategies, reimagine stale best practices, and add new layers data to your analytics.
June 10, 2015
12:00pm ET/9:00am PT