The Importance of Monitoring the Strategic Planning Process.
Remember, one of the best things about digital marketing is that you get to see data/results just about instantly or by the next day. The most significant benefit to the data being shared so quickly is that you can tweak your plan’s budget, channels, media placement, KPI’s, and overall strategy at any moment to better your results and achieve your goal. It’s important to monitor your strategic planning process because if you don’t, there’s a chance that all your hard work will not work, and you’re going to waste money; this is why you have to monitor, tweak, and repeat.
Last year, I consulted a client who developed a strategy to grow sales and increase foot traffic to their restaurant because covid dropped their annual profits by 50% -scary. They put hundreds and thousands of dollars into generic Facebook ads that lacked any form of segmented targeting, SEO, or relevant KPIs to measure the success of their marketing efforts. They didn’t even use the lookalike audience, and these ads ran all year long.
Of course, their marketing plan didn’t receive much engagement, practically any CTR/conversions but did have a massive reach. If they monitored, tweaked, and repeated from the beginning, they could have better assessed the situation and reevaluated their strategy to include better targeting, SEO, KPIs, and ad placement. Skipping the tweak step cost them a lot of money. So, stop throwing away money and monitor, tweak, & repeat! Catch the problem earlier than later; it will save your budget.
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