Not only is it important to assign specific tasks to specific specialists to know how a marketing campaign will be executed, but there is always a goal to target and there are steps to implement these goals with measurable benchmarks.
Understanding the current situation of the brand’s digital online presence and understanding where it needs to be in comparison to its competitors is a way to map out the blueprint to success. With this approach and budget in mind, KPI (Key Performance Indicators) and metrics become obtainable.
Not all budgets start out with enough to meet these competitive benchmarks
(products, service, process, or method) or even desired metrics.
That is the disadvantage of marketing for small businesses with limited budgets compared to large companies with a large budget, where increasing brand awareness is enough to capitalize on the back-end. Even then, large budgets do not translate to “milk-the-money”, because the goal is to duplicate and capitalize on strategies that convert, not just tell everyone you exist.
Is it possible to meet metrics on a small budget? The outcome varies and is never guaranteed right off the bat, because it takes time to conduct tests by first running the campaign and the results are dependent on the brand’s ability to stand apart from its competition and whether or not it’s an offer in demand. Leveraging strategies and funnels that have proven to work is half the effort, but even then, the campaign tested is tested according to the specific brand’s identity, not the competitors’. The results from there are scalable to eventually meet specific goals.
For any business, small or large, leverage is always volumizing.
For small businesses, leverage means influencer marketing, a solid value proposition, and the ability to be everywhere- anywhere your target audience hangs, as well as the amount of value distributed, usually educational information, to persuade audiences that your product or service is a solution to their problem and that you are a credible source. Want to increase consumer consumption? Ask them what problem keeps them up at night and what they would like instead, then offer a resolution that will give them what they asked for. Implementing an internet marketing campaign is to communicate the problem of your target audience and showing them the resolution and providing that solution in exchange for their monetary commitment to solving their problem.
(n.d.). Retrieved from https://www.oshatrain.org/notes/2fnotes04.html
Quain, S. (2019, March 04). Advantages and Disadvantages of a Marketing Strategy. Retrieved from https://smallbusiness.chron.com/advantages-disadvantages-marketing-strategy-53961.html