We had fun recently, working on everything from a re-positioning to a direct response campaign, with some really nice results.
As with all SME’s, money and the cost of doing business is always front of mind. The sales cycle can be long, approvals slow and the hurdles many, and high. Bc are used to being asked “but how much will it cost?”
We know that controlling revenue streams in a B2B organisation isn’t easy, and we congratulate those of you who brave the elements and challenge yourselves to spend money on sourcing new business, particularly when the approach or idea may be outside your comfort zone.
So, is it possible to control what’s happening within the business so that you can achieve a balance between working in the business and working on the business?
The answer is YES. It is possible for B2B companies to test and put marketing strategies in place that will help them control their work flow and cash flow, rather than just responding to ‘whatever walks in the door’ and struggling to manage the peaks and troughs that result.
The best way to do this is through 'agile' marketing methods, because trial and measure is the first key to long-term success in marketing to drive business.
- Write down a hypothesis statement
- Set a clear and measurable goal
- Run your test (in two-week or one-month cycles, maybe three-month cycles if what you are measuring is a slow-burn tactic)
- Measure your results
- Debrief on your hypothesis
There is no guaranteed marketing activity that will work for every business every time. Marketing is all about trialing and measuring, because only your customers can tell you what works.
Your job is to try as many different forms of marketing as you can – on a small scale – and measure the response rate and ROI from each.
If you want to start small, a mail or email campaign could be just the place, with instant response giving you a sense of where the market is at and who’s out there.
Baby-steps are often best to trial – so you minimise your financial outlay and the risk, but still take a crack – and measure everything you do.
So next time you’re considering the need to generate leads whilst managing cash flow, consider a small, highly targeted ‘test’ campaign. Control your budget and your message and get a feel for what’s out there in the market for your business. You might just get a nice surprise!
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