Marketing velocity refers to the speed at which marketing mechanisms produce deliverable results. Essentially, it is the time it takes for the resources spent on a marketing campaign to be justified by the returns. Every marketing campaign has the end goal of producing sales and revenue for your company. However, speed matters, and you don’t want to throw money at a campaign now that will only reap results months later. It would be wiser to work on campaigns that would bring faster results.
You can improve your marketing velocity in various ways to increase your sales and revenue. However, it’s not just a matter of hooking your social media manager with a Spectrum internet connection and having them post things frequently. You need a solid plan in place, and need to have an organized social media strategy, with trial and error accounted for. In short, you need to be able to react quickly and conduct your marketing practices according to the situation. This is easier said than done, but here are a few ways which will help improve your marketing velocity.
Create A Solid Marketing Foundation
A solid marketing foundation basically refers to having the right set of resources in place. You need marketing resources, social media resources, and designers to make your marketing visions come true.
Make sure you have the best resources you can manage and give them the right tools to do the job. This will create a solid foundation, and you’ll have the resources in place in case you need to change tack.
Draft A Marketing Plan
This is necessary in any case. You must always draft a marketing plan, complete with all the relevant details. This includes marketing platforms, budget, posting frequency, current, and future campaigns, and exact results. You should refer to this plan often and revise it on a quarterly basis.
Furthermore, this plan should have all this information in the form of solid data gathered from reliable sources. Then, you can gauge the exact marketing velocity you currently have and see where you could do things better.
Conduct A/B Testing
If you want results, you can’t just run one campaign at a time and wait around for results. You should constantly conduct A/B testing to see what variations are performing better. Then, you can put your full might behind the best option and reap the optimal results.
This testing will also let you know what sort of content your audience responds best to. In fact, it also lets you target different audiences, so you can see if you’re missing out on something. A/B testing should be a regular and necessary part of your campaigns and is quite useful. It also lets you get rid of ideas that are not really working as well as you’d want.
Keep Templates Ready
Marketing velocity is all about preparedness. You need to be ready with alternative ideas and posts in response to any changes. Therefore, you should have some templates ready with the appropriate sizing. Have your designers prepare these templates and keep them where your social media team can insert the relevant text and put out the campaign immediately.
To prevent rifts, have everyone agree on a certain set of fonts and image sizing standards. This will help them run campaigns more efficiently without compromising on quality. So, prevent all that waiting around for designs, and just use your templates when needed.
Be Prepared To Change Gear
The key part of marketing velocity is being ready to change gear quickly. Therefore, do not create an unnecessary hierarchy of approvals for your marketing team to follow. Give them the leeway to respond to situations and data without having to go through a long and arduous process.
This will let them respond efficiently and get the best results out of their marketing campaigns. To do this, you must also have the budget access and templates ready to be utilized.