Many business owners and managers can’t answer this for one of two reasons. Either they never realized it was possible or they felt it wasn’t worth the effort to develop tracking systems when they designed their marketing strategy.
It doesn’t matter if you are marketing online, offline, or both. It’s possible to track the results. It does take some thought and a little time, but once you have developed a system, it works for months, even years.
Why would you want know the results of your current marketing strategy? It really comes down to whether you want to invest money in marketing or just spend it. Great marketing shows a return on money invested. You should make a profit on all the marketing you do. It doesn’t always work out that way, but you need to know the results of your efforts.
Last year one of my clients got enthused about using GoogleAdWords to grow their business. Their business was growing with GoogleAdWords and TV advertising. They kept increasing the amount spent on AdWords. A couple months later they started measuring the results they were getting. They found that they were losing money each month on AdWords. Once they knew this, they changed their AdWords strategy and now use it at a profit as an effective marketing tool.
When you are developing a system to track your results you need to be aware that it won’t be perfect the first time. There will be bugs to work out. Get started anyway. You can’t fix it until you have tried it. If you have been doing no tracking and you set up tracking that only partly works, you are ahead of where you were.
Know how much business you are getting from the money you’re spending on marketing. If you aren’t profiting, STOP this plan. Then try something new. If you would like to look into building something new, schedule a time for a consultative call with me. Click here to schedule a time to talk.