Tag: Marketing ROI

As we cross the halfway-mark of the year, it's a great time for businesses and non-profit organisations to take stock of their marketing efforts and assess their effectiveness. One of the biggest challenges businesses faces is knowing whether their marketing is at par with competitors or the industry standards, and ascertaining where they can improve marketing performance.

And that is where a marketing audit figures in. A marketing audit is a detailed evaluation of a company's marketing strategies, activities, goals and performance. It identifies strengths and weaknesses, ensuring that the business stays on track to achieve its objectives and should always be completed by a third-party with no bias to any facet of your organisation.

Having a mid-year review can be particularly beneficial at this uncertain time with interest rates rising, elections coming up and economy slowing down. A thorough review at this time will help businesses and organisations stay agile and responsive.

The competence of marketers plays a pivotal role in determining the success and return on investment (ROI) of marketing efforts. As the marketing landscape evolves and becomes increasingly complex, understanding the competency levels of marketers becomes crucial for businesses aiming to maximize their ROI.

As a business owner or marketer, it's easy to get caught up in the excitement of generating new leads, as after all, new leads are the lifeblood of any business, representing potential to contribute to your bottom line. However, it's important to remember that not all leads are created equal, and not all of them are ready to buy from you right away. Patience and persistence are required by markets to developing relations with potential customers, nursing them over time to become paying customers.