Don’t Forget To Evaluate Marketing
February 25, 2013 Leave a comment
Most of the business I talk to, they each worry, consciously or unconsciously, about two things, sales and marketing. Now, they may worry about other things within their business, as well. However, they all seem to worry about these two. Nearly a year ago, I wrote two blogs about using market research to improve marketing (you can check them out here and here).
In these two blogs, I wrote about about using market research to evaluate your marketing program. However, in those discussions, there was an assumption that companies are actually evaluating their marketing. It is said that companies know that 50% of their marketing budget is ineffective, however, they do not know which 50%.
I would submit to you that in today’s world, that with testing, that you should know what marketing is not being effective. However, many companies still do not. I feel this is especially true of micro and small businesses. Not taking a critical look at how effective you marketing is essentially ignoring, not only a big expense, but also an area that can drive a large amount of revenue that can be driven into the business.
Because of this, why are companies not evaluating their marketing? Let me know your thoughts.
–J. Nolfo helps companies understand their market and customers though a variety of market research strategies. He has over ten years of experience of market research for strategic planning purposes. He is the Director of Research at Rhino Market Research. He shares his thoughts about market research and business concepts with his blog “The Rhino Crash Blog…Understanding Market Research in Business“. If you would like to discuss this blog or how J. can help you understand your market and customer needs, email him at firstname.lastname@example.org.