How do I know if I need help with my marketing?
What kinds of businesses does Marketing Growth Strategies work with?
How much should we be spending on Marketing?
We need help with our marketing but am not sure where to begin?
What do you charge for your services?
What constitutes a 'small' or 'mid-sized' business?
Q: How do I know if I need help with my marketing?
A: Here are a 10 signs that you can use some professional guidance in your marketing.
1. Your revenue has been flat or negative over the past 3 years.
2. Your top level Marketing resource does not report directly to the senior management team or the President/CEO.
3. You have not achieved your sales and growth goals for the past 3 years.
4. Your company does not have a clear positioning statement describing what you do and who your target market is.
5. Your marketing is left in the hands of a junior level employee without significant marketing experience.
6. Your marketing is done on a part time basis by your President/CEO, Sales VP, or other senior level manager.
7. You do not have a good gauge of the effectiveness of your existing marketing.
8. You have not generated a Marketing Plan or put one to use in at least two years.
9. You do not have a lead generation process in place for your sales team.
10. You have a hard time hiring and keeping sales people.
Q: What kinds of businesses does Marketing Growth Strategies, LLC work with?
A: Technology, medical & healthcare, financial services, manufacturers, distributors, and other B2B as well as retail sectors. We work with all size enterprises from start-ups to the Fortune 100. Most of our clients have revenues between $5 million and $100 million, a sales team of 3 or more people, and have been in business for at least 3 years.
Q: How much should we be spending on Marketing?
A: What you should spend on marketing is determined primarily by your size, industry and (most importantly) growth goals. Our philosophy is that you should spend as little as possible on Marketing in order to meet your growth goals. It is difficult to generalize but here is a high level benchmark to consider: Depending on size, industry and your growth goals, marketing expenditures as a percentage of revenue for businesses that want to at least maintain their current level of revenues usually range from 4% to 12%.
Q: We need help with our marketing but we are not sure where to begin.
A: A great place to start is with an Assessment of your current situation with actionable recommendations for improving your marketing. We can do what we call a Marketing Roadmap. To learn more about this call (201) 266-6919.
Q: What do you charge for your services?
A: Working with Marketing Growth Strategies, LLC you can expect to get C-Level Marketing experience for the price of a mid-level marketing resource. That's because we can leverage our experience across multiple clients. Your company could probably use some top-level marketing expertise, particularly for a critical activity like developing your core messages, managing a web site upgrade, or positioning your products. However, you probably do not want to pay for a high level full time marketing resource. Our approach is to provide you with the expert advise and direction, and to leverage your own internal resources as much as possible. Whenever appropriate, we utilize cost effective but quality partners to take on specialized tasks such as purchasing marketing lists or providing creative design or copy. Fees are generally based on a monthly or quarterly retainer that clearly specifies agreed upon business goals. Fees can also be project based or hourly.
Q: What constitutes a 'small' or 'mid-sized' business?
A: A small business is generally defined as a business with up to 100 employees while a mid-sized business has up to 500 employees.