Understanding Marketing Part 12 - Analyzing Your Management and Control
Some companies don't actually know what's occurring in their marketing because so many marketing activities can happen and patrons can be so widespread and tricky to track.
For these reasons, many firms waste time and cash on their marketing and do not even realize it.
Writing everything down One of the first things you need to do to govern your marketing is document and record each action and cost.
Keep good records and make careful lists: This idea may seem clear, but keeping an eye on your marketing can be tough to do.
For instance, my firm sells coaching materials and publications to corporations without delay to be used in their coaching programs.
We track our direct contacts with clients and know who buys and uses what.
Or do we? We also work with multiple distributors and publishers who may sell our publications to firms, occasionally without our information.
And to make the situation more involved, we also sell publications to experts who then sell trainings primarily based on our publications to firms.
So a company can get one of our products in several ways.
What all this implies is that we do not always know who's using our products or which products they have attempted and which they have not.
That are lacking of control gets to be an issue when we wish to send a letter promoting a particular product.
We may send the letter to some firms that already use that product without our information, which is a waste and makes us look disorganised.
Much worse, we do not have the names of all of the corporations that have used one of our products and so would be particularly receptive to a promotional letter.
I am steadily working on my firm's business partners to make them trade buyer lists with me, but only a few of them are ready to do so.
Controlling something as easy as our own shopper lists is not as simple as it sounds.
If you've got a large enough budget, you may wish to explore consumer relationship management ( CRM ) software.
Even if you do not have a posh (and costly) CRM system, you can and should track buyer activity and compile notes about each buyer.
Keeping the communication lines open: Another foundation of marketing control is what I think of as the human component, which encloses how folk are arranged and how they divide the work and communicate about it.
Ensure that you have obviously outlined roles and goals this part is basic to good marketing management.
And ask a lot of questions and share heaps of info to keep the communications flowing.
Management and control are all about ensuring that your company has an effectual, effective connection to your market.