(Post updated June 23, 2017)
The mid-year point is the perfect time to evaluate, adjust your marketing strategy and formulate a game plan to make the remainder of the year a success.
Mid-Year Marketing Assessment
Look Back At Your Marketing for the Past Six Months
Refer to your marketing calendar if you have one and:
- List all the marketing activities that you used so far this year including social media, online ads, new website, blog, newspaper advertising, direct mail, tradeshows, networking, etc.
- What was your most successful marketing effort to date?
- What media generated new customer growth?
- What was your least successful marketing effort to date?
Related Post: Is Your Marketing Working?
Is your marketing budget on track or do you need to revise it?
Did you raise your prices during the year and how did this affect your sales, profit and quality?
Did you introduce new products and/or services and how did this impact your product mix?
What changes happen in your business during the past 6 months that you did not or could not have foreseen? Weather, staff, economy, new competition, new regulations, suppliers, etc.
Make a note of missed opportunities or marketing ideas that you did not implement yet, for example:
- Trade shows that you wanted to attend but learned about too late.
- Mailers that you received (not necessarily from a competitor), thought it was a good idea and wanted to use the concept for your business.
- Sponsorship opportunities that you heard about at a chamber meeting
- Did your customer base change in the past 6 months? Is it growing or stagnating compare to last year?
- What are their needs, wants and expectations?
- What are they interested in?
- How do they prefer to communicate with you? Email, in person, telephone, social media
Understanding your customer will help:
- Tailor your message to them
- Reach them in their preferred media
- Develop a strong relationship
- And be “top of mind” when they need your products or services
Related Post: Define Your Target Market
No matter how small your business is, you have a brand. Your company name, logo, colors, tagline or slogan help identify and differentiate your company from other businesses. Is your branding consistent? Can your customers recognize your company in all your communication platforms? Below are some of the questions to ask:
- Did you change or update your logo during the year but are still handing out brochures or business cards with the old logo?
- Is your online presence consistent on all platforms such as website, email and social media? And is it consistent with your offline brand such as location, printed material, posters, newspaper ads, etc.?
- Do you have a dress code for your employees? Are you providing uniforms? Are your employees following the company dress code?
- Are you using your brand colors and logo for your premium items such as bags, t-shirts, and pens?
Because branding helps your target audience recognize and trust you, it is important that your message remains consistent across all Medias.
Evaluate Your Marketing Department
- Do you have the right people in place?
- Do you provide the support they need to succeed?
- Do you need additional help to carry forth your plan for the remainder of the year?
Now put your findings to work with an action plan
- What needs to be eliminated from your marketing plan?
- What was your most significant discovery?
- How can you apply it to your marketing efforts?
- What needs to be added to your marketing plan? List at least 3 strategies to put into operation.
- What marketing strategy will help you reach your ideal customers?
A mid-year marketing assessment helps you identify positive (or negative) trends, assess what is working and what is not, and fine tune your marketing plan to make the remainder of the year a success!
As a small business owner finding time for regular and consistent marketing can be difficult because there is always other “business stuff” that takes priority. CONTACT MyMarketor and partner with us to develop a plan that’s right for you. We can even help you with implementation and staying on track with your plan.