Marketing is too often taken for granted by many organisations. It is typically perceived as an add-on as opposed to an integral part of the organisation. Furthermore, the perception that Marketing is expensive consolidates the belief by some that Marketing is a luxury when it’s truly a necessity.
Marketing initiatives often get boot when times are tough like they are at the moment with the economic fallout of the COVID-19 crisis.
Nevertheless, a market-driven organisation will identify marketing spend as an investment and allocate the best budget in line with the key business objectives.
Organisations like these recognise that ultimately marketing supports the business. Critical business decisions are therefore made with a complete understanding of their impact on customers and prospecting effort.
To achieve specific business objectives, a long-term marketing strategy is mandatory and should be viewed as a basic business survival needs when the world is faced with disruptive societal events or periods of low certainty that may compromise B2B and B2C communication, like the current COVID-19 climate.
Another challenge facing marketing today is the current climate of economic downturn everywhere. More scrutiny, skepticism, and the infamous acronym – ROI are putting marketers in a constant position of needing to justify their existence.
Accountability and measurable results are what it all comes down to. If you see yourself as a cost center for your organisation – are you earning your salary?
Five quick and essential steps to evaluate your worth and prove it:
- Has your database been contacted? Is it accurate and updated?
- How often are your target markets hearing your voice – Customers? Staff? Prospects? Media?
- What is the expected ROI of a project? Look at the things on your plate and check your expectations or the expectations of others.
- Set quantifiable objectives (or SMART goals).
- Track them.
While COVID-19 has left us in unchartered waters, one thing is not changing. That is our Taurus ‘no bull’ approach, which for 25 years has underwritten the way we’ve supported, protected and built client brands. The ‘no-bull’ mantra of our methodology, has even stronger meaning as the Taurus team is committed 100 percent to provide support in meeting head-on these difficult challenges for you, our clients. Learn more about our offering and how we can help you here.