Your most valuable assets that are at your disposal may already be at your fingertips, you just need a little bit of clarity, and a change in mindset. When surrounded by like-minded individuals planning on increasing leads while also fighting for a seat in the market, we often forget one of the most fundamental elements that need to be consistently addressed: our differentiation. Differentiation along with facilitating clear-cut communication is not just a healthy tip for your business, but also for your customer as it gives the opportunity to change their perspective. Being able to do that is an important part of inbound marketing and makes all the difference when it comes to your marketing budget, or should I say, marketing investment.
Short-term impact vs. long term strategy
Your marketing investment management (MIM) carries in its toolkit investment planning that lands long-term effects. Money that is also invested into marketing spend provides results with a more short-term and focused scope. When it comes to short-term tactics that require more focus and attention, marketing effectiveness has been shown to have a higher impact which can be represented by ROI. Long-term planning strengthens the MIM guild, building trust and value for your customers as well as covering security for the years to come. It may not be as impactful as some short-term strategies, but good management also recognizes patience as a great feat and your investment may offer continuous benefits. Other departments, such as finance execs, may not see this though – only focussing on the short-term ROI gains and not recognizing the long-term strategy of winning.
MIM aspires to achieve long-term planning and short-term impacts. It is best to acknowledge their differences and the importance of measurement approach and shared communication through a detailed CRM system so that prioritization can be implemented for maximum productivity.
What is seen vs. What is proven: ROMI
An issue that marketers have been struggling with has been accurately measuring a marketing strategy and establishing effective results. With difficulties in collecting raw offline data, providing accurate reports and adjusting your tactics could be hard. Full online and offline optimization with an advanced data analytics platform would empower teams to work more closely and it would give better incentive to show investment opportunities, rather than areas that are due for budget cuts.
Managing the source
The source of maintaining a meaningful client relationship is providing truth. It is a fact that marketing technology (Martech) is constantly being innovated and many marketing teams are working with outdated material, including CRM systems. It is even more costly to jump from one system to another, yet there are marketing execs who do this because there is no prestigious track record with proactive behaviour. A CRM system that offers multi-touch attribution along with accurate ROMI modeling and promotion effectiveness can simply optimize your marketing strategy. You can continuously personalize your experience, be up to date, and let there be transparency between your data and the steps needed toward a marketing solution.
Methods of improving marketing effectiveness can be impacted in a positive way; from tailoring your marketing strategy to a more long-term goal to enhancing your CRM system. Regardless, from adjusting your MIM style by simply shifting your perception from budgets to investments, long-term strategies would create sustaining efficiency in comparison to short-term tactics with low-impact benefits.