Every year we at William Joseph review our strategic plan and develop a marketing plan to achieve our goals and objectives. Tim and I get to play client, state our goals and objectives and hand our marketing over to a very competent team of individuals. As a business owner it is nearly impossible to be objective about your own business. As a business owner you want every initiative to provide a huge ROI. We want to look like international rock stars. We made this clear in our kick off meeting with the William Joseph team.
After a few months of the team investigating, researching, calculating and consulting with each other Tim and I get called into the INITIAL PRESENTATION MEETING. We are nervous! What are they going to tell us? Have we been doing the right things to achieve our goals? How much is this going to cost?? After breaking into the presentation with a few comfort slides, the hard hitting facts start to hit. Then key insights arrive that make us bend our thinking. I look at Tim. He looks back. I am not sure if we are thinking the same thing but overall, we keep quiet and listen. I try to keep an open mind even though sometimes my instinct is to disagree. I keep remembering – these are the experts that we hired. They work on all our clients’ most important business and we trust them to do that. They hold our business close to their hearts too – BUT WHAT ARE THEY THINKING!!
We leave the meeting.
That night the presentation and document is running through my mind. Yup, they had some good points there. Hmm… that new approach has merit. What value would that initiative really bring to our agency???
We regroup to discuss the presentation and after having some time to digest we come to agreements. Some points Tim and I push hard and our team defends. But overall, the plan going forward is approved. Now what is this going to cost. Yet again Tim and I brace ourselves and then proposed budget number drops. Its definitely more expensive than we thought, but we’ve already bought into the strategy and the creative concept and we agree on the results that it’s supposed to bring. I think back to my first house not costing as much as they want me to spend in marketing this year. ARE YOU SERIOUS!!! But then again logic kicks back in. Three markets (now four) x 12 months = logical spending. Wow, how such a large number can seem so overwhelming but yet make perfect sense. It fits the ratio of expenditures vs sales. It achieves our goals. It makes us look like international rock stars.
Now the lessons to be learned from this blog: we at William Joseph have to spend on marketing like everyone else and even though we do this daily, as business owners, we still go through the same emotions as our clients. It can be scary to let a marketing team dig around in your business. It is nerve-racking hearing someone critique your baby, your effort, your hard work. It can be surprising to hear the cost of the solution, but necessary to remember that marketing is NOT an expense, it’s an investment in your future… But overall, it can be really exciting to see the business returns that come with international rock star status!