Top Five Tips to Control Marketing Costs

 
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Top Five Tips to Control Marketing Costs

There’s nothing quite like the colour ones’ face turns when they receive the unexpected news of yet another blow-out in their marketing costs. To avoid the inevitable that every business owner and marketing manager faces, here’s April Ford’s top five tips to control marketing costs, brought to you by Brendan Ford.

1. Plan, Plan and Plan.

Most people don’t have a marketing plan, let alone a marketing budget. This stops now. Download our free marketing calendar and budget here. This template allows you to map out in detail your marketing plan for the year on the first tab. On the second tab you can allocate costs to each of those activities month by month. To work out what to allocate; get quotes or make calculations so your budget is realistic. Guessing costs is like guessing profitability - it doesn’t work. So, plan ahead and avoid the shock of marketing budget blow-outs.

2. Reporting

If you don’t have at least monthly reporting in place that shows your marketing spend and outcomes, then you simply can’t manage what’s not being measured. Review costs and results monthly, then you will know whether you’re on track or off track, on budget or off budget. You can then adjust accordingly. If you don’t have systems in place to produce this information, then ask us about our Monthly Reporting Package.

3. Invest to save – Digital Advertising Management

Sounds counter intuitive, however investing to save is a real thing. The most obvious place we find this is digital advertising. Many businesses try to manage this in-house but without the expertise to execute properly.

Giving Facebook Advertising or Google Adwords ‘a go’ can be an expensive exercise. Sometimes your results seem pretty good, but you don’t actually realise the cost of leakage or lost opportunity. Other times, someone sets a daily limit to $100 instead of $10 and you get a three-thousand-dollar shock at the end of the month. Invest in advertising management. Get a professional, preferably us, to manage your digital advertising. You will be amazed at how much you can save.

 

4. Don’t be fooled

Unfortunately, as with many industries, there are some money hungry operators trying to fool you out of your cash. Don’t be fooled. There are companies cold calling businesses claiming to be from Google asking to get access to your Adwords account. There are consultants claiming they have the resources and expertise to deliver, when really they’re working from a co-working space out-sourcing everything but still charging you a premium.

When it comes to digital marketing. Be diligent. Meet the agency or supplier. Inspect their office and team. Get referrals from their existing clients. Make sure they are who they say they are and don’t be fooled.

 

5. Ad hock marketing is disastrous

No one ever successfully deployed an ad hock marketing strategy cost effectively. When things are done on the fly and without careful consideration they will cost you more and potentially waste your money. If you make ad hock or on the fly marketing decisions. STOP. Download our marketing calendar here now and build a plan.

Bonus Tip

6. Don’t buy impressions

If a company, consultant or supplier tries to sell you guaranteed impressions on digital advertising, run! Run as far as you can. Impressions for those who don’t know, is the number of times a post or advertisement is viewed.

Impressions are a waste of money in most cases particularly if the impressions are from people unrelated to your target market. In some cases, it is a valid measurement but not a reason to pay for them solely.

So, if a company comes knocking and says “I can guarantee you 100,000 impressions” kindly thank them for their time, but decline their dodgy offering. 

Why is this a cost control measure? Well technically it’s a preventive measure from you doing something that will waste your money hence being a bonus tip. 

If you’d like to discuss your marketing contact me now. Brendan Ford.

 
marketingBrendan Ford