Do you fall in any of these categories?
- don’t track marketing results
- don’t measure the amount invested and the true cost of generating clients against the income received
- don’t tie your marketing program into your “Brand” objectives in addition to marketing for new clients
- don’t measure accurately the volume of response generated from any specific activity
- don’t have an annual budget for marketing
- don’t market until there is a need
- don’t stop marketing efforts that don’t produce a “value” return
- don’t target their marketing expenditures
- don’t try any new marketing ideas because they haven’t been tried before.
Any one of the “don’t s” will cause you to have an inefficient marketing program. Let’s bullet point solutions to each of the above:
- track each new customer (and repeat customers). Ask questions that can provide comprehensive answers. Finding out how customers hear about you, over the course of a year, will set a base for future marketing programs.
- return on investment isn’t measured only by income less cost of product or service. Often the total cost such as rent, payroll, your time, company profit, etc is overlooked.
- All marketing must include your “Brand” promotion. People need to learn to recognize your brand and what you want it to stand for.
- All marketing; mail, blogs, e-mail, yellow pages, phone calls, etc. must be evaluated as to the new business generated
- Marketing dollars should be budgeted for an entire year and used, even if business is booming
- Marketing (see prior bullet point) should be consistent and not done only when there is an urgent need for business.
- Get rid of marketing programs that don’t produce results. As the saying goes, “doing the same thing and expecting different result is the first sign of failure:
- Don’t market to the entire world. Not everyone has a need for your product or service.A targeted marketing plan will yield a better result, and often is more cost effective.
- Change is the only constant if business today. Welcome innovative (different) marketing approaches. But always track results.
It’s all right to have butterflies in your stomach. Just get them to fly in formation.
Have a great day!