Business Grow System
Week 49
Review marketing tools inventory
ADMIN NOTE: Here is a marketing tools inventory checklist to help you get started.
Marketing Tools Inventory Template
Growing your email subscriber list is critical to the success of your digital marketing strategy.
Key Take Away
The Purpose
Setting up a marketing tools inventory can help you keep track of the tools and technologies you are using to manage your marketing efforts, including email marketing, social media marketing, content marketing, analytics, and more.
The Reason This Matters
Email marketing allows businesses to reach out to their customers and subscribers directly in their inboxes, which can be a more personal and engaging way to communicate than through other marketing channels. By sending relevant and valuable content to their subscribers, businesses can establish trust and loyalty, and encourage them to take action such as making a purchase or sharing their content.
How This Will Benefit Your Organization
- Better visibility into your marketing technology stack: A marketing tools inventory allows you to have a comprehensive view of all the marketing tools you are currently using, including their features, functionality, and costs. This can help you make informed decisions about which tools to use and how to optimize your toolset.
- Improved collaboration and communication: By documenting the tools and technologies used by different teams within your organization, a marketing tools inventory can facilitate collaboration and communication. This can help ensure that everyone is on the same page about which tools to use and how to use them effectively.
- Enhanced efficiency and productivity: A marketing tools inventory can help you identify gaps and redundancies in your toolset. This can help you eliminate duplicate tools or add new tools that better align with your marketing goals and budget. This can help increase efficiency and productivity, as your team will be using the most effective tools to achieve their objectives.
- More effective decision-making: With a better understanding of your marketing technology stack, you can make more informed decisions about which tools to invest in and how to optimize your toolset. This can help you achieve your marketing goals more effectively and efficiently.
- Improved ROI: By evaluating the cost and ROI of each tool, a marketing tools inventory can help you make better investment decisions. This can help you allocate your marketing budget more effectively, resulting in a better return on investment.
Overall, a marketing tools inventory can help your organization streamline your marketing efforts, improve collaboration and communication, enhance efficiency and productivity, make more effective decisions, and improve ROI.
Who Should Do This
Your marketing manager should have access to everything necessary to keep this inventory up-to-date.
How Long To Allocate For This Task
The setup of your email marketing account is very simple. Adding your existing contact lists and mailing lists to the system can take anywhere from 15 minutes to an hour depending on how many lists you have and how you want to organize the contacts once in your account.
Action Steps
Categorize the tools: Categorize the tools by their purpose, such as email marketing, social media management, content creation, analytics, or other categories that make sense for your business.
Document the features and functionality: For each tool, document the features and functionality that you use, as well as any limitations or challenges you have encountered.
Identify gaps and redundancies: Review the inventory to identify any gaps or redundancies in your toolset. This can help you determine if you need to add new tools to your inventory or eliminate any tools that are no longer necessary.
Evaluate cost and ROI: Evaluate the cost of each tool and determine if the investment is providing a positive return on investment. This can help you determine if you need to adjust your toolset to better align with your marketing goals and budget.
Maintain the inventory: Set up a system to regularly update the inventory, such as quarterly or bi-annually. This can help ensure that you are aware of any changes in the tools you are using and can make informed decisions about future investments.
By setting up a marketing tools inventory, you can better understand the tools and technologies you are using to manage your marketing efforts, identify gaps and redundancies, and make informed decisions about future investments.