Quarterly Check Up!
We’ve talked about a business plan, and how crucial it is to our ongoing business health (I’ll say it again), regardless of whether we’re borrowing money: success requires planning.
A solid plan includes branding, marketing strategy and implementation, in addition to business goals.
Quarterly review of the entire plan may mean nothing more than refreshing our memory about some aspects, a few minor things may have changed, but the real value for time spent in review comes with re-evaluation of branding, marketing and the progress we’re making toward our goals. Add current financial statements and (ideally) a few trusted advisors? The review process can begin!
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The merit of any one particular aspect of marketing may be fairly assessed after a three-month trial. Has revenue increased? How much money was spent to increase that revenue? Has the extra effort and spending been worth it? Consider the intangibles as well: look at customer satisfaction and loyalty / retention. How have competitors reacted?
Has the brand been impacted favourably, or not?
And are we on track to meet our annual goals?
What’s your plan for the next quarter? Continuation of the previous quarter’s marketing initiative, or do you have something new in mind?
