Amidst changing tech trends and a huge number of platforms and channels to juggle across, driving marketing efficiency and meeting business goals may sometimes hamper the productivity of marketing enthusiasts.
Achieving business objectives is easier said than done. Let’s not ignore the tight schedules, stringent budgets, and never-ending brainstorming sessions. In an attempt to ace marketing productivity and extract quantifiable results, it is projected that around 82% of marketers’ efforts don’t fully convert.
What should businesses do to row through this?
Well, by using the right tools and tactics, witnessing unmatched levels of marketing efficiency is plausible. Every marketing touchpoint should be considered as a potential opportunity and teams must collaborate to invent robust marketing strategies.
Let’s take a 360-degree view of how businesses can extract marketing efficiency and deliver high ROIs.
What Does Lack of Marketing Efficiency Result In?
Marketing efficiency is a result of precise and unique plans, coordination, and attainable business goals. If these elements are not in alignment, you run the risk of having your marketing efforts wasted.
Often, marketers spend too much time in devising strategies for chasing short-term agendas. However, the ultimate goal should be to achieve long-term objectives that enable businesses to maximize scalability.
Another key factor responsible for the lack of marketing efficiency is the improper use of tools that can help measure performance. Project mismanagement can also lead to marketing pitfalls. To combat this, we have compiled the best tips that will empower you to achieve marketing excellence.
5 Tips to Boost Marketing Efficiency
Here are 5 key actions that can help you streamline your marketing efficiency for better results.
1. Keep your agenda clear: Setting business goals that are unrealistic prevents the marketing teams from developing a definite plan of action and taking steps to proactively accomplish targets. To excel in your marketing initiatives, it is essential to foresee the loopholes, identify opportunities, and draw a crystal clear marketing plan. Objectives might change with change in business plans. It is, thus, essential to list out priority tasks and give all the other stakeholders clarity around the specific projects.
2. Review the overall marketing process: A comprehensive assessment of the past year’s performance can help organizations in reinventing their marketing goals. Enlist the strategic objectives that you think will reap the desired benefits and devise attainable plans accordingly. Give your team SMART goals (specific, measurable, attainable, relevant, and time-bound) which are defined targets that the team must achieve within a time-frame. Providing definite roles to the team members will boost performance whenever marketing campaigns have to be rolled out, taking you on the road to marketing efficiency.
3. Automate repetitive tasks: Statistics suggest that around 77% of organizations are using project management tools to eliminate marketing roadblocks and establish transparency. Irrespective of the size of the marketing team, it is of utmost importance to keep team members updated about the processes and tasks in line. This is the reason for every business to invest in a robust collaboration tool. Automating processes will enable you to save a ton of effort and money by reducing manual efforts to perform repetitive tasks. Teams can effectively streamline tasks, exchange ideas, get regular updates, and chalk realistic agendas using marketing automation tools like Marketo, Pardot, HubSpot, etc.
4. Acknowledge team member inputs: Marketing enthusiasts can sometimes surprise you with their expertise and knowledge. This can help managers in developing plans that are crisp and profitable. Marketers study the industry comprehensively and are aware of the changing trends and their input can be helpful in setting agendas. So, it is essential to encourage team members to give their input for laying down action items and realistic objectives.
5. Practice risk management: With every marketing initiative, there is some degree of risk associated. For a marketing strategy to be successful, it is essential to anticipate the risk and devise an alternate plan of action that will help mitigate the risk. Marketers often are not able to foresee the potential risks which ultimately lead to roadblocks. For example, practitioners may fail to analyze the market by picking data from unreliable sources. The improper analysis of data may lead to the imposition of risks, hampering the effectiveness of a marketing strategy. A risk management tool will empower businesses to regulate processes, measure performances, and eliminate any risk associated with any project.
Teams can get a hawk-eye view of the workflows, activities, and deliverables easily. A risk management tool will empower you to regulate processes, measure performances, and eliminate any risk associated with any project.
Efficient marketing is a mix of advanced tools and proven tricks. It is important to devise plans that focus on the attainment of long-term goals and objectives. Prepare a check-list with tricks that work and drop the ones that don’t and you’d be on your way to achieving the marketing efficiency you’d always hoped for.
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