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Time to Take Marketing Inventory

The key to success in today’s saturated marketplace, where guests have so many choices, is effective marketing. Review the inventory checklist below. Do you have or need the basic marketing elements to be successful today? Take inventory of the marketing basics below and use the “needs” as the beginning of a new marketing plan based on the basics. 

Marketing Inventory Checklist 

Basic tools and methods:

Have / Need

___/___    New logo within the last 3-5 years

___/___    Current business ID (business card, letterhead, envelope, label, etc.)

___/___    Updated competitor analysis (pricing, products and promotions of competitors)

___/___    Update business cards as necessary (at least every year—add Twitter and Facebook)

___/___    Website is 2.0 compliant (up-to-date web presence)

___/___    Online listings and search rankings tracked and updated

___/___    Appropriate social media participation selected and active

___/___    Soliciting and utilizing regular customer/client feedback

___/___    Regularly scheduled contact with top customers and solicit feedback

___/___    Calculated potential return on each marketing project before you invest

___/__    Marketing plans and promotions are scheduled six to twelve months in advance

___/___    Action plan with timeline for next six months

___/___    Appropriate metrics to monitor plan success

For Added Impact:

Have / Need

___/__    Updated press kit and regular news releases out with photos

___/__    YouTube videos posted relevant keywords

___/__    Photo gallery on web or in print of all products and interior/exterior photos

___/__    Company clothing and promotional items (giveaways and uniforms)

___/__    e-newsletter and e-blast to existing customers and continue to add 

 

Update your marketing plan

If you have an informal or unwritten marketing plan, take the time to make it official. If you have a marketing plan, update it regularly. Be sure to fund your ideas. Calculate your potential return with each marketing project—before you invest. Without clear substantiation or proper budget, your plan may not generate the rate of return necessary to meet your business needs.

If your existing marketing efforts aren’t working, stop now and assess the situation more thoroughly or bring in qualified assistance. You can’t afford ideas that don’t work in hopes that someday they might. The number one way to maximize marketing impact and stretch marketing dollars is to consistently take inventory of your marketing and keep your basic needs in mind.

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