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How to burn through your marketing budget

Many people have different ideas of what marketing is and what it’s meant to achieve; for me it’s an investment, a way to help increase your turnover and achieve your business goals. Basically, with every pound spent towards marketing you earn more than a pound in return, or you generate conversions, attracting more traffic to a website, sales-generation/lead-gen, or just increasing your overall brand exposure.

Now that we’re halfway through the year and well into summer, with the sun burning bright (for once). You’re probably wondering how you’ve burnt through your marketing budget – even if your financial year started in April.

But don’t worry, at Plinkfizz we’re here to help! We’ve listed below some of the most common ways in which businesses burn through their marketing budget. So you can sit back enjoy the read, but more importantly, DO THE OPPOSITE of anything in the blog post below!

1. Don’t bother with an identity.

Having guidance from an identity or set of brand guidelines is over-rated. Just get it done as quick as possible, that’s how it’s done. Money is time and time is money.

If every time you send out some sort of communication it looks different or doesn’t have some form of synergy with past communications, you will damage your brand and business.

If your customers don’t recognise you and are confused by altering their mental picture of who you are through different visual identities and tone of voices, you will decrease the chance of getting a brand ambassador or fan of your product or services.

Developing a brand positioning and identity upfront is how you can really save money. Spending time researching your industry, to define what you truly are and how you want to be perceived will mean that your brand will have longevity.

A good brand can last forever if done correctly. Or you might just want to refresh what it stands for every 3-5years, so it’s relevant to current trends and behaviours of your customer.

 

2. Strategies are for people who want to complicate things.

Marketing is simple. Design it, create it, produce it and they will come – I’m referring to the customer of course! Putting a plan together is for chumps and time wasters.

Wrong! No matter how small or complex a strategy is, it’s always vitally important. This piece of work simply aligns your marketing to your business objectives and goals. Most Marketing Managers should have a grip on this. However, at Plinkfizz we’ve seen an increasing amount of businesses who don’t have a qualified, trained or strong Marketing Manager. This can sometimes mean work doesn’t align, campaigns aren’t fully fledged into great creative pieces of work and conversions are low.

It’s perfectly fine if you don’t have a qualified Marketing Manager. Just simply use your agency to plug the gap and get as much value out of them as possible, they should be an extension of your marketing department so use them to that effect.

Ultimately, always make sure that everything you do aligns with the strategy. Be harsh and critical on yourself and the task you want to do. Because if it doesn’t align with the objective or goal. This is what we call ‘wasted energy’.

 

3. Just put some stuff on some social media channels.

Generating loads of content is a massive trend at the moment. Everyone else seems to be doing it, so why can’t I. I can post stuff about what the weather is like and what the team eats for lunch on all my channels. It’s all about selling our business personality. Remember Content is King!

This is one of our biggest pet hates at Plinkfizz. We simply say: ‘If Content is King, then Social Media channels are his counsel. Keep them close but remember only a few are loyal’.  People who get this normally do well on social media as they post authentic, entertaining and useful content on a select amount of relevant social media channels. However, sometimes even the best of us fall short of having every channel out there, or fall into the trap of having Facebook, Twitter and LinkedIn, as these are the most popular.

Be selective about the channels you use. To sustain them all would be a drain of time and budget. Remember you might find that your target audience resides on Instagram and not Twitter, so why have a Twitter account?

 

4. Trust the experts.

You guys come along with your fancy marketing terminology and constant up-selling and persuasive technical details to sell me more work. You’re the ones who waste most of my budget.

It’s easy to say this. However, it’s proven to be far more cost-efficient in the long run to hire an expert who knows what they’re doing, rather than hiring a novice or trying to do the work yourself.

We’ve recently seen a perfect example of this where a client wanted to amend details on their website, we provided the costs, but they decided to ‘save money’ and try to do the work themselves.

The inevitable happened and they ‘broke’ the website! And instead of paying a small amount for us to do it correctly, ended up spending five times more plus two days of two of their staff’s time making it worse!

Not very cost efficient at all!

If you have an expert or agency you can access, use that resource more effectively, as they’ll be able to operate more efficiently. Plus, you’ll be able to hold them accountable for whatever results they get in your campaigns or commissioned piece of work.

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