You are successful, despite yourself. You are in a business where you sell something people want and need. The potential for big success is highly probable. Unlike a lot of businesses (like restaurants) that have a low probability for success.
I’ve been told there are dealers who get their marketing budget on the 4th of the month based on volume from the previous month. ..They’re budget for the current month!!!!
Pardon me while I gulp. This is incredibly poor planning and a wonderful way to either spiral into oblivion or, at best, use inferior methods and pay too much for them.
Let me count the ways:
- Cost: Everything cost more when you do it on the fly. And, a couple of weeks to do the things you want in marketing is…on the fly.
- Systematic: Taking pot shots is not systematic. It is the opposite.
- Consistency: Marketing is consistent exposure to the right people. Explain to me what is consistent about getting your budget on the 4th and then trying to deploy over the next 3 weeks. Ok, that’s consistently poor planning.
- Efficiency: Intelligent direct marketing can’t be launched in a couple of weeks. You’ll have to settle for the least scientific methods, but hey, you will also have to pay more for them.
- Market Performance: Your volume; if it goes up and down with the market, you’re treading water. If you want to grow you have to out-perform the market, not out-perform yourself.
Month to month planning is not planning at all. Why do you think major companies do their reporting by quarters? That’s 3 times the amount of time that you use. Because they know something you don’t know? And, they set up their marketing on an annual basis and then review it on a quarterly basis. It’s called foresight.