Marketing Turnaround Programs

What exactly is a Marketing Turnaround program, you ask? A Marketing Turnaround program plan is a prescription for improving your organization’s overall marketing plan in an effort to generate more leads profitably and convert those leads into revenue. A business cannot generate new revenue/sales without marketing and leads. Here is the simple formula:

Marketing = Leads = New Revenue/Sales

Following is a very basic outline of what a Marketing Turnaround plan might consist of.

  • Create a competitive intelligence report of your closest competitors
  • Conduct a business research survey of your target business customers—if you sell to businesses (B to B), or conduct a consumer research survey on your target consumers—if you sell to consumers (B to C).
  • Determine all the viable marketing channels available for your specific product/service.
    • B to C (sell to consumers)
    • Retail marketing, visual marketing, and referral marketing
    • Loyalty card programs and solo direct mail advertising
    • Shared mail advertising and door hanger advertising
    • Billboard advertising and guerilla marketing
    • TV advertising and radio advertising
    • Email advertising and Internet banner advertising
    • Internet pay-per-click advertising and social media advertising
    • Search engine optimization (SEO) and press releases
    • Sports marketing and celebrity endorsement-based advertising

     

    • B to B (sell to businesses)
    • Referral marketing, retail marketing, and visual marketing
    • Loyalty card programs and solo direct mail advertising
    • Direct mail gift advertising (pens, free trials, etc.).
    • Fax advertising and voicemail advertising
    • Email advertising and Internet banner advertising
    • Pay-per-click Internet advertising and press releases
    • Search engine optimization (SEO) and sports marketing
    • Tradeshow marketing and guerrilla marketing
  • Conduct a profitability analysis of your current marketing channels
  • Based on your monthly marketing budget, determine which marketing methods should be part of your overall synergistic marketing mix.
  • Create “marketing financials” that will allow you to easily determine which new marketing methods are generating leads profitably and which are converting into revenue most efficiently.
  • Create revenue growth projections for each marketing channel individually and for the marketing campaign as a whole.

Contrary to what most people might think, every single business utilizes some form of marketing. If your business has generated even a single dollar in new revenue, it most likely came from a marketing effort. Maybe all of your revenue is generated from referrals. That’s excellent! Referral-based marketing is the oldest form of marketing in business.

Maybe your business is retail-based, and your sales come from walk-in traffic. Well, then your revenue is generated from retail marketing or visual marketing. Retail marketing expense is the total additional premium and expense that you incur over and above what standard office space would typically cost in the area.

Regardless of how many marketing channels your organization utilizes, if your profitability and/or revenue have dropped, it’s most likely time to retool your current marketing plan and/or marketing strategy.

When you’re ready to take action and learn more about our marketing turnaround solutions, please click here (Marketing Turnaround) to contact us online. Or, you can call us right now at 214-347-4239.