If you own a small business, you, like me and so many business owners I know, will probably find yourselves at some point, thinking about your business, or maybe even, working over the weekend!
Here’s what I want you to think about over the weekend. If you worked for a large corporation (maybe you used to) and all the heads of department were meeting together, what sort of things would they be saying?
Of course you would have the top man say a few words to get the ball rolling. He probably isn’t that happy, he never is. He wants to see more results. The usual “we can do better” type of speech.
Head of Finance will complain that everyone is spending too much money and that not enough is coming in. Standard!
Head of Sales is bullish as always and he has so many potential deals that are about to close that the company may well go bust from TOO much new business. (I used to be a sales guy, I can relate to these sorts of people). It’s all bluster!
Head of Marketing is sat there. Quietly waiting for her turn to answer to the big cheese. In one hand, she has a plan that was drawn up at the beginning of the financial year, in the other, she has stats and figures, detailing and outlining exactly what has happened, when and where.
The top man turns and says "what about marketing?”
She shuffles her papers in front of her and begins:
“So far this year, we’ve met our goals for the marketing plan we originally agreed."
"Our online marketing efforts have cost us £XX,XXX in direct advertising and promotional costs."
"With that budget we have managed to secure more than 55,000 visitors to our site, every month since the beginning of the year."
"Form those visitors, we’ve managed to bring in an average of 272 leads per month."
"Those leads have created an average of 7 new clients a month."
"A client’s LTV (Life Time Value) for us is £XX,XXX."
"So in total we’ve delivered a Return On Investment of 5X on what we've spent."
"I can also break down the number of leads per channel, the customers per channel and even how much revenue each channel produced so far this year.”
As everyone else sits back in their chairs, they start to think, that’s pretty precise. There is no guess work here. No generalisations.
These are the cold hard facts. You don’t need to guess, you don’t need to make them up, you don’t even need to estimate. You can see the exact results, what they cost and where they came from.
Now, if you’re a small business owner, I have some interesting news to tell you. Those 4 people we just heard from in the meeting, the Boss, Head of Finance, Head of Sales and Head of Marketing?
They are all YOU!
When you are starting a small business, you "wear many hats”. It’s true, you need to do a bit of everything in order to survive.
But here’s the interesting thing I want you to think about over the weekend. When it comes to your marketing, you don’t need to think, wonder or guess how things are going. You can simply look, read the data, understand it and move on to concentrate your efforts moving forward.
Without the marketing team, let’s be honest, your sales guy won’t have any leads to talk to, therefore, he won’t get any sales.
No sales means the Head of Finance is miserable. He wants more money coming in.
Ultimately with his Head of Sales and Head of Finance being miserable, the boss starts losing his cool.
But you can either be that Head of Marketing with The Plan in one hand and The Results in the other, or you can flail around aimlessly trying to work out what you are doing, where you did and at the end of the day, not even know what worked and what didn’t.
Who would you prefer to be?
Which would most benefit your business?
When are you going to do something about it?
Message us and we’ll show you how to start reading the data and using that information to create better short and long term strategies to build your business, starting right now!