6) Measure your results
How important is it to measure results?
Well, I would say that for entrepreneurs, measuring the results of their marketing efforts is one of the most important things they can do as it creates opportunity to make ongoing adjustments to their marketing plan – which ultimately lead to an increase in sales. Yet despite this, I have worked with so many entrepreneurs who have tended not to bother measuring the results of their specific marketing campaigns opting only to measure the overall results from their making plan.
My advice to you, if you are one of these ‘big picture’ entrepreneurs, is to take time to measure the results from all of your marketing efforts no matter how small or unimportant you think they may be. If you put an ad in the local paper then take time to write down how many enquires it generates and whether they came in via telephone calls or emails. If you keep a WordPress blog then make sure you install the ‘StatPress’ plugin so that you can measure the effectiveness of your blogging efforts. If you hand out loads of flyers then make sure you find ways to measure the response rate you get from doing this – for example, you could create a new email address specifically for the flyers, or put a discount code on them so that you can differentiate the enquires that come in from flyers to those coming in from other campaigns. In a nutshell, if it moves, find ways to measure it!
The trick is to measure everything so that you know which activities to do more of and which ones you might be better off ditching! And, by measuring everything you also create the opportunity to ‘fail small’, a trick that I picked up from one of the articles I read on Chris Cardell’s website several years ago. Basically, if you measure the results you get from a small scale marketing campaign you are able to use these measurements to forecast the success you are likely to get from a large scale one. Naturally, if a small scale campaign fails then it’s not worth doing it on a larger scale as it will probably fail too!
Share your ideas and/or tips on this subject with us by leaving a comment – thanks in advance.
All the best,
Founder of End Goal Marketing
NB. The above tip is the sixth in a series of seven that I have written – here is a list of the others that I will be posting shortly:
7) Adjust your marketing plan
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