As we head into the second half of the year, it may be time to check in on the company’s marketing.  If your company doesn’t have a full-time marketer, it can be a challenge to stay on top of what’s going on.  We’ve created a checklist to help guide your review, so you cover the important aspects of the marketing function.

Spending

Many companies we work with don’t have a good handle on marketing spending.  Sometimes, the expenses related to marketing end up in different budget buckets and it’s hard to track.  Regardless of whether or not you regularly budget and track marketing spending or not, it’s a good idea to check in periodically to see what’s being spent where and whether or not that’s delivering value.

Sales History & Forecast

If you’re not tracking sales regularly, you’re not alone.  Many small and mid-sized business owners don’t review sales as often as they should.  Often, we see that review comes when a cash flow issue pops up.  Take some time now to really review your numbers:

• Are you on track to what you thought you’d be?
• How do your sales compare to last year at this time?
• What can explain the changes you’re seeing?
• What do you need to do to get on track?
• Which products/services are driving revenue?

This is also a good time to update your forecast for the year.  Forecasting is a muscle – your ability to forecast gets more accurate the more you do it.

Customer Loss/Gain

• How many customers do you sell to and how does that compare to last year?
• Are you maintaining the customers you have?
• Can you bring back lapsed customers?
• Do you need to find new customers?

Use of CRM

Too often, we’re seeing clients lose a salesperson only to find that they haven’t left a trail of their customer connections or any information to help a new salesperson start with some momentum.

If a salesperson makes a connection with a current or potential customer while in your employ, that contact information belongs to you.  Just like a vehicle or building, your customer list could be an asset in your business but not if you don’t maintain it.

Even if your contact list is just a spreadsheet or sales system, make sure your team are entering customer contact information and their activity with those customers regularly.  It’s a habit built over time, but salespeople need to be held accountable regularly.

Market Scan

There is so much going on in your business, it’s easy to get stuck looking at what’s going on inside the company.  Take some time to check on what’s happening outside of your company:

1. Market Focus
   • Are current target markets still aligned with business goals?
   • Any changes in demand or competition?
   • Are there any key themes or concerns from customer feedback?
2. Sales Update

• What is your team noting in conversations with current customers?
• What is happening in your marketplace?
• What is the competition doing?

This is a quick overview of the questions we ask clients in our regular checkups.  If you’re not asking these questions often, maybe it’s time to have someone else do it for you.  After all, when was the last time you decided not to go to the dentist and do your own checkup at home?

Give us a call.