Three ideas to help your marketing evolve faster
Published May 23, 2016 2:44 pm by
Categories: The business of marketing
It’s hard to believe we are already approaching the midpoint of 2016. If you want to evolve, now is the time to begin your 2017 marketing budget and planning process. With all of the digital changes we are experiencing, marketing is increasingly complex. Starting early allows you to consider more options and evolve faster. Racing against the calendar at the last minute often leads to incremental change and stale thinking. Why not take a different approach this year and start with a clean slate? Read how I used these seo reseller services to grow my business.
Here are three ideas to spur change and ensure you are moving forward with purpose:
1. Imagine you are a startup, how would you go about building your budget differently? What part of your plan is stuck in 2010? Are you sticking to old habits and a historical budgeting approach?
2. Make sure you keep pace with the technology and tools you need for growth. The 2015-2016 Gartner CMO spend survey suggests that well over 50 percent of marketers rank five areas as top priority for marketing technology investment:
- Social marketing
- Digital commerce
- Marketing analytics
- Customer experience
- Advertising operations
These may be new line items that require budget, analysis and planning. What is your process for studying this?
3. Establish an innovation budget. The aforementioned Gartner study suggests 10 percent (or more) of your marketing budget should be earmarked for innovation. This is R&D for marketing – and it is the best way to guarantee that you explore emerging technologies and opportunities to create a business advantage.
If you are looking for more to read on this subject, see our post on Budgeting for Modern Marketing; and here is a link to a good article from The 2014 CMO Survey on marketing spending by business sector.
It’s an exciting time to be in marketing. Remember to start early and enjoy the ride.