Unleashing the Power of Marketing: 5 Indicators Your Business Needs Help
When’s the right time to add a marketer to your team? And what kind of ROI can you expect from that hire? While some small and mid-sized B2B businesses get by without marketing, it’s more common to see organizations using marketing to achieve growth, break into new markets, launch new offerings and remain competitive. This said, sometimes marketing results seem immeasurable and in some cases, it doesn’t have a big return. Would investing in marketing pay off for you? Read on to find out.
Before we dive in, let’s first talk about what “marketing” is because it’s a nebulous term. Marketing is an umbrella term that includes dozens of tactics like tradeshow booths, key messaging, ads, websites, brochures and other sales collateral, articles, videos and other content, mass email communication to your customers and prospects, PR, direct mail—you name it. We’ve never encountered a company that doesn’t “market,” but we’ve seen many who are unintentional about marketing (more on this later).
Assuming you want to be intentional about your marketing effort and use it to propel growth, boost revenue, help you outshine your competitors or achieve other sizeable goals, here are five indicators that investing in marketing will be wise.
Indicator 1: You’re in stagnation
Stagnant or declining revenue is a red flag that your current effort is insufficient. We’ve seen this in organizations with a mature sales team. Still, no marketing person, as well as in scenarios where there’s a junior person charged with marketing, they don’t have the knowledge to be effective and “right the ship.” Suppose your organization is in a state of stagnation, investing in a marketing strategy to identify areas for change or action. In that case, executing tactics that align with that strategy is a smart move.
Indicator 2: You’re in transition
Businesses undergo periods of change, like entering new marketing, launching new offerings, or going toe to toe with a new competitor. These transitions require careful marketing planning and tactical execution. An experienced integrated marketer (someone who understands a wide swatch of marketing tactics–not just SEO or websites) can map your best path forward and then do the grunt work to get you to the finish line.
Indicator 3: You’re doing marketing but have no idea if it’s working
If this describes your current marketing effort, you’re not alone. But this needs to be fixed! You need to know if it’s working. Very roughly, 80% of marketing tactics are measurable, and it’s important to take the time to measure so that you know what works and what doesn’t. Find a marketer with the tools and expertise to track your effort, analyze that data, and provide meaningful insights into your marketing spend’s performance. Over time, you can make data-driven decisions that yield better results.
Indicator 4: Your marketing materials could be described as “a dog’s breakfast”
Does your business card look different from your website, which looks different from your brochures and packaging? Your marketing materials are the face of your business. If nothing matches, it doesn’t reflect well upon your company. What’s more, given its hugely important function, a dated or otherwise bad website is enough to signal that you would benefit from marketing help.
Ideally, A knowledgeable marketer with brand management experience will ensure your marketing is consistent, impactful, and aligned with your business goals. Lean on them to create a cohesive brand experience for your target audience and customers.
Indicator 5: No captain and no map
Sinking money into things like social media without a clear strategy or plan is like heading out on a road trip with no destination. If you’d prefer not to drive in circles, get a marketing strategy before you start spending on tactics like social media and ads. We see this scenario play out most often with organizations that don’t have a marketer in place and those with junior marketers. The solution is easy: hire a contract marketing strategist to create a strategy and plan and educate you on marketing trends, best practices, innovative techniques and your best path forward. With this guidance system, your marketing will be noticeably more impactful.
When’s the right time to add a marketer to your team? In their earliest days, even companies need marketing to develop their brand, messaging, website and sales material, etc. But if any of the five indicators above describe your situation, then now’s the time to leap because investing in marketing will likely represent a big return for you. For the best return possible, find an experienced marketer with the skills your situation requires.