Excerpt from: Global BANK Academy Newsletter 8.24.2014

This weekly feature on coaching is from our rock star Vice President, Phil Lechter. Phil has a tremendous background in coaching, beginning with the Rich Dad organization over 14 years ago and stretching into creating his own business coaching firm.

Marketing is for getting clients not for keeping up with the Joneses. There are plenty of shinny objects when it comes to marketing but your marketing should be looked at as an investment not an expense.  This is all about demanding a positive and acceptable return for your invested dollars.  So like any investment, it is important to determine the return on each of your marketing efforts.  One of the first steps to take is to set realistic and measurable goals for your marketing programs. Get your Key Performance Indicators in place and establish the right metrics. It’s almost a certainty that you’ll need to make changes to your goals as the data comes in. If you find that your goals were too aggressive or too conservative, don’t be afraid to make appropriate adjustments as you get smarter about how your marketing efforts are working. Remember, what you can measure, can be improved, but you’ll need to be willing to take action on adjusting those goals and the marketing efforts as you move along and learn how the market is reacting to your efforts.

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