AGREE: It is vital to understand from where financial returns are generated to focus your time and energy appropriately. It may be that some areas of your business take up a disproportionate amount of resources but in fact produce a small portion of your revenue and profits. Plenty Systems has devised an easy-to-use Performance Goals Worksheet which will assist you to identify the value of each of your product or service offerings.

DISAGREE: You have a good understanding of your revenue and profit margins. Remember that these can change over time, so ensure you continue to analyse your income streams several times per year to keep them on track with your changing marketplace.

AGREE: In today’s information-rich environment, your website is a vital tool in your marketing mix. It is often the first point-of-contact with customers so, in addition to providing information about your products and services, your website should call your customers to action, act as a portal for online sales through e-commerce solutions, collect customer requests, feedback and data, and represent your company in the most professional means possible.

DISAGREE: It sounds like you understand the importance of having a professional and functional website that does far more than provide information. Take the time to examine the portion of business that is generated through your website, and be sure to update your site with new content on a regular basis so returning-customers can see you are operating a vibrant and dynamic business in touch with their needs.

AGREE: It can be difficult to keep up with competitors and have a true understanding of where your company sits in the market when you are busy each day trying to get the work done. If you are unsure of your unique selling proposition (USP) then it is time to identify your strongest selling points and benefits for customers to do business with you. Have you considered undertaking competitor and customer research; find out what your customers really think about you, and why they chose your business over a competitor. Use that knowledge to optimise your messages and forge ahead as a leader in your field.

DISAGREE: You have a strong understanding of your market position and the competition in your sector. Ongoing competitor and customer knowledge will ensure you retain a strong position in your industry and the right messages will continue to bring customers to your door.

AGREE: The importance of testing and measuring can never be understated. An average business will engage a number of marketing tactics at any one time, but it is vital to measure the return on investment for each campaign. Having a means for collecting and analysing data is paramount to ensure you aren’t wasting money on marketing avenues that don’t perform. Also, the data you collect must be meaningful to your decision making, otherwise you will continue to repeat time and money-wasting mistakes that produce undesirable results.

DISAGREE: You have obviously taken the time to test and measure your marketing tactics and undertake campaigns which give you predictable and desirable results. Having an understanding of what you are doing and why is vital to the continued success of your business.

AGREE: There is no denying that all companies are in the business of selling. Whether or not you recognise this as being a priority, the ability to convert general interest into a sale takes confidence, knowledge and skill. Do not assume that your items will sell themselves; with increasing market competition and consumer education, your in-house sales techniques need to be well honed to ensure your marketing effort isn’t wasted through lost opportunities. Tracking your leads to conversion and your follow-up procedures are important to successful marketing and should be high on your management list.

DISAGREE: You have solid marketing and sales lead-to-conversion processes in place. Your staff are well trained in sales processes and have an understanding of personal and company targets. You most probably spend time and money to improve sales techniques to ensure your marketing effort is never wasted, and your follow-up procedures are an every-day part of doing business.

AGREE: Hopefully your customers and staff DO feel good about your business, but don’t be confused with public relations activities that have a place in general promotion of your business; all marketing activities should be viewed from a strategic and commercial focus to bring financial success to your revenue and profit margins. Any marketing tactic should be tested and measured to ascertain its impact on your bottom line, including public relations, and money should only be spent on campaigns which bring tangible or measurable results to your business.

DISAGREE: You recognise that effective and efficient marketing strategies make a direct impact on your revenue and margins, and you allocate resources to do the right marketing when required. Your customers and staff feel good about your business and it shows in your bottom-line results.

AGREE: The time and money expended to gain new customers is far more than trying to retain current customers through excellent customer service and innovation that will warrant them returning to you on an ongoing basis. If your business offers a unique product to the market, don’t be fooled into a false sense of security that customer loyalty isn’t important; there are new competitors entering the marketplace every day and a weakness in your processes will be quickly identified as their strength. Your marketing dollar will stretch much further with repeat sales and customer retention.

DISAGREE: You recognise the financial sense of repeat customer business and you are getting the most out of your marketing spend. Through innovation and attention to customer feedback you are able to adapt your business to changing requirements to ensure your customers continue to return.

AGREE: A marketing plan is a living document which plays a vital role in your overall business development and, just like your business plan, should be changed as your company grows. A plan should not be written and then left on the shelf; it should form the basis for how you conduct marketing activities, direct your human and financial resources, and have a direct correlation with your revenue and profit margins. The ongoing evaluation of your planned activities is necessary to ensure your financial goals are being achieved and your resources are being optimised.

DISAGREE: You have a plan in place which you monitor and update on a regular basis to ensure all activities are undertaken and returning projected returns on investment according to your budget and timeframes. You do, at minimal, annual marketing plans and evaluation in line with your business development and market influences.

AGREE: What you did in the first year of your business will not necessarily work 3 years or 10 years down the track. Costs increase each year and, regardless of the age of your business, it is essential you continually review your products and services to understand which are the most profitable in comparison to time and resources available. If you find your revenue has increased, but your overall dollar profit has remained the same, then it may be time to look at reducing expenses. Even with stagnant revenue growth, you can work smarter to increase your profit margins by optimising your current marketing and business systems.

DISAGREE: It sounds like you live by the philosophy to work smarter rather than harder, and you are optimising current resources to make the most of your efforts. You have the ability to increase profit margins, keep expenses in check, and your company continues to show solid annual growth.

AGREE: It is difficult for any business to successfully market to prospects and existing customers when data is not organised in a usable format which can be accessed by staff on an ongoing basis. It is time to question your current customer record management (CRM) and business processes to ensure you aren’t missing out on opportunities that you have already paid for through your marketing efforts. If your company is still young, it is the perfect time to ensure you have the right CRM tool in place which has the ability to meet your needs as your company grows.

DISAGREE: You are using a quality customer record management (CRM) system which is centrally located and can be accessed by staff as required. You know exactly what is happening with your prospective and current clients and your business systems are efficiently and effectively working to keep your business moving ahead.