In our last post ( below) I talked about hit it and quit marketing and the solution you can use to increase your response and make your marketing campaigns profitable. BUT NOW I WANT TO EXPOSE A DIRTY LIE. Maybe one you have heard yourself.
Talk To Any Marketing Expert and they will tell you that you should be getting a 2% response on your marketing efforts whether it be on -line or offline. Well I am here to tell you its a dirty bold faced lie and a very dangerous one to your wallet.
WHY? Most people who own a business are just focused on getting their phone to ring. Few if any look deeper and see if there efforts have paid off.
LESSON #1- You must always and I repeat always code your ads and marketing pieces so you know which ones are working and which ones are not. Simple I know — but less than 1% of business or practice owners do this.
That is exactly how these marketing companies and agencies can get away with such lies. YOU-their clients don’t know what’s working and what isn’t so they are off the hook as long as the phone rings.
But you are a subscriber to profitandwealth because you want the “real goods” the insider info that actually works.Right?
Now let’s dig deeper. The one and ONLY way to determine what the correct response rate is for you campaign is to use the ROI facts.
Example- I invested 1000 and got back 2000.00 so the conclusion is let’s do it again.
If you lost money or broke even than you need to do 1 of 3 things.
1. Drop the campaign
2. Try a different media or target audience
3. Go back and tweak it
I am assuming you have read the last post below already– Because it explains how to really market your goods or services.
If you got a 10% response but they did not buy from you than your ROI is still 0 !!!!
Dedicated To Increasing Your Profits and Wealth
Brian Sacks
( I’m going to give you a break today and not have any PS’s but please take the time to rate this by hitting the stars
above and also leave your comments below. See the tell a friend button under this post? go ahead and tell them)
Leave A Reply (4 comments So Far)
Ben
614 days ago
Brian — you are so right. And to take this one step further, I have some clients that are so wrapped up in following the % for their ROI (even for profitable campaigns) that they lose track of the big stat … how much $ is it putting in their bank account. Preach it brother
briansacks
614 days ago
Ben
Thanks for the post — and great to hear from you !
Hope all is going well !
Brian
Kathy
614 days ago
The source of the application is the 2nd thing after I put in the date on the handwritten applications I still use. (just incase of a computer problem). I’m surprised at how many people inbusines I’ve spoken with that don’t ask a customer “How did you find me?”
briansacks
614 days ago
Thanks Kathy
Great idea and you are correct — But I would also encourage you to know the source of all leads coming in using various tracking methods.
WHY?
It’s good to know which marketing efforts are producing results
BUT
Sometimes a campaign is producing calls– but they are NOT the type of clients you want or could be ones you can’t help
If something is producing a ton of worthless leads than you either need to change the message– so you stop attracting them or possibly replace the media or target list