I often say that marketing, advertising in particular, is one of the fastest ways to waste money short of gambling. It is a high risk proposition that businesses need tight controls over and a solid plan of action to see results from.
My approach has always been to start by eliminating the barriers to sales. Once the sales process is sound and reliable and you can forecast and manage your promotional investments, we shift to growing the business. Normally this starts with sales lead generation via search marketing, online advertising and content marketing. We also consider traditional direct sales and marketing techniques where appropriate.
I measure my performance in part by eliminating wasteful spending on promotional activities, before companies have their sales, production and service foundations in place. Then once they do, I measure performance by virtue of how much we can drive down the average cost per sale, while increasing the rate of earnings growth and control over the sales funnel.
Helping companies setup and develop the capacity to operate a closed-loop sales and marketing program is how I ultimately measure my contribution to a firm. I am process driven in that regard, However, this is precisely where I've seen start-ups struggle out of the gate. Once the selling system is built the challenge transitions more towards scalability and operational controls.
Regional Marketing Director
Fasken Martineau DuMoulin
January 2015 - December 2016