What You Can Measure You Can Manage
Measuring and monitoring your results gives you greater control over your marketing and the techniques you are using. It usually also means better use of your marketing budget.
So I want to talk to you about some easy ways to properly measure and monitor your results.
Measure, Monitor, and Test..
3 little words with so much power.
You can have a great product or service, you can have the very best advertising method in the world, and your support and service may be supreme. But you will never reach your optimum performance unless you master the art of measuring, monitoring, and testing.
Without the ability to measure what is happening to your ads and offers, you cannot monitor what is occurring. And without testing, you may either let the best idea you ever had slip away, or you may spend a fortune on an ad you should have known was not going to work long before you started.
So for any system to be complete, you need to build in these 3 elements—measure, monitor, and test.
Let’s begin with measurement. All your advertising and acquisition mechanisms must have a built-in measurement device, for example, a code unique to the ad, headline, offer, or guarantee. The reason for making it a unique item is that you then have a device to allow you not only to measure based on the number of responses, but also to specifically focus in on which ad, or run, or medium worked best.
Here’s an example. Can you spot the measurement opportunities?
How did you do? Let’s discuss the possibilities.
- You could measure the number of people who are requesting the 10% discount. To make the voucher even better, use a “Sunset Clause.” That is, set a clear expiration date to get people to call now rather than later.
- You could implement a manual system to ask people (whether they phone or drop by) where they heard of you. It should be used all the time, but good triggers would be those people who ask about the ‘Free Quote’ or 10% discount.
- You could measure the number of people who take you up on the offer of a ‘Free Colour Consultation.’
- You could measure the number of incoming coupons that have the code in the top left-hand corner.
Two other areas are very important to think about.
- You should only focus on one measurement tool for each venture. If you have an ad like the previous one, you need to decide which measurement tool will be most effective and most easily monitored. Then institute a system to make sure it’s measure effectively and accurately every time.
Our way of doing things is unique and it’s why it produces unique results for our clients…
We would love the opportunity to help you clear your head on what is the right way for you to accelerate your business…
We highly recommend you watch this step-by-step case study of how we grew Beefy’s Pies into a Famous Aussie Icon from a small stressed out bakery into a family owned chain. Click here to get all the insights into their success…
Or if you have heard enough about how we work with our small business owners, then let’s have an off the record chat about your current situation and see what we can do to immediately guide you…click this link to see what time best suits you.
P.S. Ask if our Boardroom Program intake is open for enrolments…It works best for business owners who see the benefit of having us on as their ‘external partner’ so that they are not alone in the day to day decisions of their business.