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Once you know these things, you have the power to make decisions, and
good ones. You know which marketing campaigns to kill, or improve,
and which to spend more money on.
You\u2019ll also know where your \u2018key leverage point is\u2019 - that is, the thing
that you most need to improve. Perhaps your conversion rate is high
but your leads are \ue004ew - maybe it\u2019s the other way around. Maybe you\u2019re
doing well in both lead generation and conversion, but you\u2019re not selling
enough high priced items.
1. \ue003esting and measuring is nothing new. You\u2019ve probably been doing it all your business li\ue004e. Remember the
newspaper advertising you tried that \u2018didn\u2019t work\u2019, and the radio spots that \u2018did OK\u2019. Tat\u2019s all testing is. It\u2019s about
\ue002nding out what produces results and what doesn\u2019t, then making decisions based on that.
2. You MUS\ue003 start asking people where they \ue004ound out about you. I\ue004 you don\u2019t, you\u2019ll be in the dark \ue004orever. You
may keep running an ad that never brings a sale, and accidentally kills a good one. Customers usually come \ue004rom so
many sources, it\u2019s impossible to judge how an ad is working on sales alone. Perhaps you got more re\ue004errals that week,
or there was a \ue004estival in town. Every time someone buys, ask them this question - \u2018By the way, can I just ask where
you heard about my business\u2019. No-one, and I mean no-one will have any problem telling you.
3. Be vigiliant and disciplined. You can\u2019t test & measure hal\ue004 the time - you must do it every hour o\ue004 every day. It\u2019s not di\ue001cult - just remember to mark down a record a\ue004ter every customer interaction. And make sure any employees do the same - stress the importance o\ue004 it and absolutely DEMAND that they do. Also, tell them it\u2019s essential that they are honest.
I\ue004 you choose option two, there\u2019s a couple o\ue004 things you can do to make the
task simpler. First, go back over your past ads and think about how well
each one worked. Pull out the best couple and see i\ue004 you can pick what
gave them their edge. Next, read a couple o\ue004 books on marketing, or at
least \ue000ick through them. Last, look at what your competitors are doing.
Do they have an ad which they run every week? Unless they\u2019re stupid,
this ad must be doing ok. What ideas can you steal \ue004rom it?
Go through this process with each marketing piece that doesn\u2019t seem to
be working (letters, Yellow Pages, re\ue004erral systems, \ue000yers and so on). Kill,
examine, modi\ue004y. Kill, examine, modi\ue004y. Once you have a collection o\ue004
these revised pieces, just sit on them - there\u2019s something more important we
need to deal with \ue002rst - the strategies that are working.
Run through each o\ue004 the working strategies in depth, examining why they
are producing results and the others aren\u2019t. See i\ue004 you can pick the one important
attractive point about each. Tis in itsel\ue004 will teach you a massive amount about your business.
Next, think o\ue004 a way to do each strategy on a larger scale. I\ue004 it\u2019s \ue000yers, the answer is simple - drop twice as many \ue000yers. Tat should bring twice the sales. I\ue004 it\u2019s an ad, run it in more papers, or increase its size. I\ue004 it\u2019s Yellow Pages, book a bigger space next time.
plus more leads \ue004rom bigger scale success\ue004ul marketing strategies should give your business a boost.
Te lack o\ue004 dead money being poured into ads that don\u2019t work should also give you a helping hand.
A\ue004ter running through this process, it\u2019s time to pull your revised \u2018dud\u2019 strategies\u2019 out o\ue004 the drawer, and give them a
(it\u2019s probably the wrong
approach altogether) and concentrate your eforts somewhere else.
Very soon, you\u2019ll develop a collection o\ue004 marketing strategies that work, and weed out all
Now bringing you back...
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