As a business owner or someone running a marketing team, do you ever stop and wonder just how effective your marketing campaigns truly are?
For some companies, marketing is at or near the top of the food chain when it comes to promoting the business brand. Others, however, do some marketing here and there, but it seems like it is never quite enough to meet the critical needs of the company. Whether this is due to budget constraints or just an overall general lacking of knowledge when it comes to marketing, the end result can be lost revenue.
So, how do you go about getting the word out about your products or services and still keep the marketing budget in tact?
In order to increase the chances of your marketing program succeeding, whether you are working to promote TitleMax.com or any other number of title loan companies or other industries, remember to:
- Set a budget – Many companies run into trouble because they get in over their heads financially with marketing goals. Before the start of each fiscal year, set an approximate spending amount for your marketing ambitions. Be willing to adjust those goals as the year moves along, meaning you may have to increase your efforts or scale back to a degree;
- Know your target audience – It is ever so important when marketing products and services to know who you want to get your message out to. Doing marketing campaigns with no intended audiences is akin to throwing money out the window. If you’re marketing titles loans, you might be looking for individuals and families with lower incomes, small business owners who need one or more vehicles for their companies etc. Do some marketing analysis to see where your time and money will be best spent;
- Utilize social media – One of the biggest friends for a marketing campaign is social media. If you are not using social media, do you have a good reason? The answer is likely no. Set aside time and effort to focus on your social networking needs. For example, you can use your Facebook fan page to engage current and potential customers by putting questions out to them such as polls. Not only does this encourage engagement with the consumer, but it can also provide you with good data for your products and/or services. Twitter is a great site (140-word character limit) for tweeting out information about your company, links to industry trends etc. One note with Twitter, don’t be tweet-happy to the point you become overbearing to other users. Use it in moderation, retweet interesting items from other users that would be of value to consumers, and add people to follow that are worthwhile to your profile, not just to add large numbers. Remember, quality over quantity should always be the goal.
With all the positives that a good marketing plan can bring you, what are you waiting for?
About the Author: Dave Thomas writes for a variety of websites on topics such as human resources and running a small business.