How Much Do Ag Businesses Need to Invest in Marketing? Ag business owners know the importance of making every dollar count. The most successful ones also know something else very important, the value of carving out a piece of their budget – no matter how tight – on marketing their business.
The key to marketing success for an Ag business is knowing where every marketing dollar goes – and making sure that each one it is put to good use. To do this, the first order of business is to look at your marketing budget’s ROI. This involves three important factors.
- The Ideal Customer: When you know who your ideal Ag customer is you can figure out the best way to reach them. This includes everything from email marketing to content marketing to social media.
- The Time Commitment: A campaign that runs longer may cost more but also is more likely to pay off. No matter how much you spend on marketing, if you aren’t willing to make an investment of time (and bring your patience) you are unlikely to get the intended results.
- The Outcome: Tracking results is critical to knowing if a marketing campaign is working. To do this, however, you must know which metrics work to measure specific goals. Sales are relatively easy to measure, brand awareness isn’t. You need the right tool to measure every goal you have for your marketing strategy.
Deciding how much you should invest in marketing for your Ag business will depend on who your ideal customer is, how much time you want to spend and the specific goals of any campaign. The biggest mistake is not having a plan.
You also need to be prepared to make changes when necessary. The best marketers understand that marketing is never static. Refinements are always necessary. These refinements will guarantee that no matter how large or small the marketing budget, it will always be worth the investment.
Need help marketing your Ag business? US Farm Data helps Ag businesses of all sizes put a marketing plan in place that produces solid, measurable results. We’d love to do the same for you! To learn more, give us a call at (800) 960-6267 or visit usfarmdata.com.