Mid-Year Business Development and Marketing Checkup
Just as you take care of yourself by visiting your doctor for regular checkups, so should you check in on your business development and marketing efforts. It is already July and the perfect time to see how you are performing. Have you implemented some of our favorite tips and tricks from the past six months? If not, here is a refresher on three strategic mistakes to avoid with your sales and marketing efforts for the rest of 2017.
1. Not Utilizing “Smarketing”!
The misalignment of sales and marketing can cost B2B firms and companies upwards of 10% of revenue per year, according to the TAS Group. This is substantial when you consider a lot of firms don’t even have a marketing budget that is 10% of revenue. You can avoid this mistake by:
- Combining the groups—metaphorically and physically. They should not be two separate functions separated by space and time. They need to have common goals, understanding, processes, and environment.
- Define the process—the simplest way is marketing generates leads, hands them off to sales, and sales, well, sells. But define and implement the process that works for you and your firm.
- Measure and adjust—review what works and what doesn’t and adjust as needed.
2. Poorly Defined or Non-Existent Plan.
If I’ve said it once, I’ve said it 1,000 times. You have to have a well-defined, thought out marketing plan that supports your firm overall goals. It needs to be thorough, well researched, and regularly reviewed to ensure initiatives are on target, on budget, and on time.
3. Resting on Your Laurels.
It is easy to become complacent and want to ease off the gas when things are going well at your firm, but this can be a mistake. Rather than coast, try something new. Jumpstart that account based marketing we have been telling you about, invest in new and different technology to support sales and marketing, experiment with new tactics, the list is endless.
Tag us on Twitter at @Hollinden and tell us how your mid-year check in goes!
Posted on Fri, June 30, 2017
by Christine Hollinden