Be effective

Bethaney Larkman, marketing and communications manager for Distinction Doors, explains why marketing is an investment and how it can help deliver quality and meaningful results especially in a difficult economy.

At a time when budgets are being implemented or set ahead of the new financial year, we must be mindful of the challenges facing many UK businesses.

Directors will review every department and process, seeking efficiencies and savings, and marketing is no exception.

In fact, marketing can be especially vulnerable during straitened times. Often, decisions to cut budgets or stop certain activities are made for short-term gain, with little or no regard for the long-term impact on brand awareness, new business prospects and customer retention.

We must, therefore, change the narrative when it comes to marketing in challenging economies. Key to this is seeing marketing as investment not cost. One of the ways to achieve this is by prioritising meaningful marketing effectiveness.

Marketing effectiveness

In response to Marketing Week’s Language of Effectiveness Survey, more than half (61.2%) of the 1,610 brand-side marketers say marketing effectiveness measurement has become a more prominent factor in marketing and business decisions over the past three years.

This is occurring as budgets are scrutinised like never before. However, there can be a disconnect between the data that matters to marketers and that which is important to (and understood by) the CEO, board of directors, management etc.

The Marketing Week survey reveals that ‘Conversion rates (51.7%) are the number one metric being studied by marketers in their effectiveness tracking, followed closely by new customer acquisition (51.1%) and click-through rates (49.1%).

‘Brand awareness (47.9%) was the fourth most popular, followed by leads generated (46.9%) and return on investment (44.9%).’

So, before you embark on your next campaign agree your metrics – these may vary depending on the medium and decide which data to include/is required. Then decide on how best to share this information with stakeholders. And most important of all, present marketing effectiveness consistently. There is little value in ad-hoc analysis.

Marketing effectiveness will not only inform and improve business strategy and help determine future budgets, but it will also encourage accountability.

Think long-term

As well as being an investment, marketing should be long-term. Businesses, especially those in B2B sales, must play the long game. Focus instead on long-term sales generation and brand-building – making sure the brand is front of mind for buyers, not just now but in the future.

This is one of the many reasons we decided on a brand refresh in 2022. The rebrand presented an opportunity to not only revaluate the Distinction Doors brand but also reaffirm our position – we have taken steps to ensure that we are a trusted and recognised B2B brand with consumer clout.

This decision was based on almost 20 years’ marketing and sales experience in the B2B sector, data analysis, and customer research, but most important, it is supported by years of communicating marketing effectiveness to our stakeholders. This is one of the reasons why we gained board approval to run with the strategic brand development.

Customer retention

Our customers benefit from our long-term commitment to marketing. From leads generated through our showroom locator to Instagram partner ads and the design and print of bespoke brochures – we support our customers using a myriad of marketing tools. That’s why customer retention is an important metric in our marketing effectiveness.

Long-term marketing effectiveness enables businesses to work smarter, achieve meaningful goals, and justify investment (not cost!) in a tough economy.

To find out how your business can benefit from Distinction Doors marketing support, please get in touch.