Have you ever sat down on a Saturday night and considered the marketing you have observed over the past week? I am beginning to make it a practice in my business. I have spent some time today in my first Saturday marketing observations about what I have seen over the past week. Some of the things that I have seen have inspired me, some have caused my mind to be filled with possibilities, and some have reminded me about how much money is spent on marketing that is just plain wasted.
It reminds me of the business owner who said, “Only 50% of what we spend on marketing really works. The only problem is that I don’t know which 50% it is!”
That leads into my topic for today and that is that all of your marketing dollars must be accounted for in measurable ways. Now measurable means different things to different people, but in the end you have got to find a metric that measures how much you spend to brand and market you vs. how much business (new and repeat) that your marketing dollars produce.
To do this requires three things:
1. The development of marketing campaigns instead of creating “give aways.”
2. The development of a tracking system that allows you to measure both who gets your message, who opens your message, and who responds to your message.
3. The ability to know when something is working and when it is not. Only then can you spend your hard earned marketing dollars where they do the most good!
Well, Saturday is almost over for me so I’m gonna say “nighty night.”
Talk more later ….