No they don’t.
If you have tracking in place, achieving your objectives and are happy with your progress then for the moment you do not.
When to do a full marketing review?
When you have questions and need answers.
I bring it down to two areas. One is if there is where you want to improve performance in an area and the other is when you are seeking growth opportunities.
If you find that your business is not performing as you would like then it is a good idea to seek what is stopping it. The simplest way is to take a step back. For example ask yourself is the problem getting customers or keeping customers.
By answering this will guide you to look either externally first such looking if anything has happened in your market. Or look externally such as your market. This saves you time and money
When you are looking for business growth opportunities then a review and analysis can speed up the process and help ensure the opportunity is worthwhile.
This type of marketing review will contain some different elements than the performance review. And it depends on what type of grow you are looking for.
For example if you decide that there could be an opportunity to add to your product or service range then naturally you will look to see if there is demand, level of competitors etc.
If you want your customers to buy more often then you would look at what situations this could be suitable for or what products or services you could group together etc.
The final thing to note is with any analysis the aim is to get the answers so you can get into action as soon as you can and not fall victim to analysis paralysis.
Over to you
Have you done a full marketing review on your own business? If you have share you tips. And if you have any questions about reviews feel free to ask them when you leave a comment.