Marketing Mistake #2; Failure To Monitor Your Results

Sales and Marketing

Results. That’s all that counts in business. Results.

Any promotion worth putting your time, money and effort behind, is worth measuring how well it performs.

Only by knowing what kinds of results a certain marketing effort produces, can you determine whether or not to run it again, or what you may need to do to change or tweak it in order to make it more effective.

It’s absolutely amazing how many business owners don’t understand this simple concept.

They’ll let the Yellow Pages advertising salesperson sell them an ad in their local phone book, let the phone company ad department layout the ad, then let the ad run with no way of knowing whether or not a prospect called or a customer was obtained as a result of that ad.

The ad has no “accountability” or “measurability.”

So, next year, the same ad gets run, the same results are had, and the business owner continues to complain about how poor business is.

And the same thing happens with his or her newspaper ads, magazine ads, direct mail campaigns, Val-Pak marketing and every other type of marketing they do.

 

As an astute business person, you should never even consider running an ad or executing a mailing campaign or promotion without having some type of response mechanism to measure the results.

You wouldn’t think of ordering and paying for a product… any kind of product, and then not checking to see if you received it.

Yet, many business owners will run ads in their newspaper, magazines, Money Mailer, or Val-Pak, or send out a mailing and never even bother to see what kind of results the ad produced.

I know it’s crazy. But it happens every day. And millions of dollars are wasted because of it.

Some people even go so far as to say, “Well, my advertising isn’t to bring in customers right away. Its purpose is to keep our name in front of our prospects and create ‘top-of-mind-awareness’ so when they’re ready, they’ll remember me.”

Well, top of mind awareness is important. There’s no question about that. But you can’t afford to operate your business on “deferred results.”

Each of your ads and mailings must have a definite, targeted purpose.
And each ad must be measured to see that it, in fact, does accomplish that purpose.

 


Lisa Ormenyessy

Business Coach and Marketing Specialist at

I help SME's gain leads easily without breaking the bank. Talk with me and discover how to spend your marketing dollar and achieve sales using simple, proven, low cost strategies. | SavvySME Members Only Offer - Request your Free Marketing Review Session (valued at $397) & identify the hidden opportunities in your business & put a stop to the expensive leaks in your marketing


Comments (2)
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Micha Wotton

Micha Wotton, Head of Development at SavvySME

Great reminder Lisa, thanks! Sometimes setting up the measurement mechanisms can seem like a waste of time as they don't contribute directly or immediately to revenue, but without them you're shooting in the dark.

Lisa Ormenyessy

Lisa Ormenyessy, Business Coach and Marketing Specialist at

Thanks for your feedback Micha