The Mezzanine ‘Win Your Marketing Contest’ is underway and we have narrowed down the list of applicants from over 65 to just 5. There were so many deserving companies – we wish we could work with all of them. But, ultimately, we had to pick those that are the best fit for the Win Your Marketing Contest. Just because they’re the finalists doesn’t mean they’re the ‘best’ (most innovative, fastest growing, or other factors) – they’re simply the best fit for Win Your Marketing. Here’s what we were looking for:
- Strong ROI potential. We are looking to demonstrate the impact that $75,000 in marketing can have on a business. If it wasn’t clear that the company could add at least half a million in revenues within a year due to better marketing, then it wasn’t a strong candidate.
- Sufficient existing sales and customer service resources. With increased marketing, there will be more leads and customers to handle. The winner needs to be ready to bring them through the sales funnel.
- Be ‘just the right size’. Like Goldilocks looking for a chair to sit in, we’re looking for a company that isn’t too big or too small. For large companies, $75,000 would only scratch the surface of their marketing needs, while for a very small company $75,000 would be overkill. We need just the right size where $75,000 will make a big difference.
- Needs help, but not too much help. A company that has challenges in other areas of the business (operations for example) would struggle with increased leads and sales due to enhanced marketing – the house has to be ready for growth.
- Have comparable data. We want to demonstrate the difference that marketing can make in a business, so if there is no track record it will be difficult for us to do a comparison.
- Be different. One of the core tenets of marketing is that that the service or product is different. If a company is very good at what it does but is one of dozens just like it, and can’t really define what makes it special, it will be next to impossible to market.
We're doing site visits and interviews with the 5 finalists over the next 2 weeks and will announce the winner around the start of October.