Without A Big Enough WHY, You Will Fail
What motivates you? Is it money? Rent? Ego? What is your why that pulls you out of bed every day? You need one. And not just any kind of why you need a BIG ENOUGH why or I guarantee whatever you are doing will fail.
How Does Your Why Impact Your Business
Understanding your data will always point your business North. Every campaign, upgrade, marketing strategy that you and your team talk about needs a why. Our Agency has met with so many companies who do the same thing over and over again because that’s all they’ve ever done.
Perfect example… I’ve had a crapload of marketing gigs. One marketing jobs was within the financial and insurance industry. Every year, like clockwork, this company would release campaigns to their network because that is what EVERY other insurance company was doing. But why?
I have and always will advocate looking at the data.
In this case, I setup tracking metrics to see just how effective these campaigns were. You know what we discovered? They had terrible engagement. It wasn’t marketing’s fault nor the consumers. It was just a crappy idea that had no real why. It was busy work every insurance company did, so why not join the crowd.
Using Your Why To Analyze The Data Should be D.U.M.B.
Imagine if there was a why in place. Marketing campaigns should come with objectives. They need to be doable, understandable, measurable, and beneficial. Aka they need to be DUMB.
If what you’re doing is not completely DUMB Stop Doing It
Let’s break down some d.u.M.b. metrics here…
The gig above, could we release campaigns? Yes. Could we do them every year within the timeline? YES. Could we add bills and whistles to them. Of course. Would these campaigns still fail — HELL YES.
Just because something is doable, doesn’t mean it should be done. The only way to gauge this is by looking at the data. Was it cost effective? Did it reach your objectives?
Understand what you’re doing. There is NOTHING wrong with launching a marketing piece designed to capture likes and good vibes among followers. In fact, more companies should focus on this.
But to launch a campaign because everyone else is launching one is a waste of your time. Take a look at giant companies and think about how they operate. The ones that have the biggest impact are the ones who aren’t afraid to separate from the herd.
Can you measure what you are doing? You should always aim to measure everything you do. Think of it like this, if you have $100 budget and you’re spending $75 on a campaign that is getting you zero results do you want to spend the remaining budget on that plan? Probably not.
The only way you’re going to be able to know where to spend your budget, time and energy are by having measurable metrics in place.
Is what you are doing advancing your brand? Is it beneficial? If it’s not, may I ask why are you doing it? At the end of the day, if it’s not moving the ball forward then it’s taking your team away from moving the ball forward.
PS. Everything you do should be d.u.M.b. if it’s not hitting all 4 areas then you need to evaluate your why and why you’re doing this. We use this formula when it comes to reporting and meeting with clients. We highly recommend it. If you’d like to discuss some more d.u.M.b. stuff please reach out. Visit our website www.Treehouse51.com for more info.