The True Measure of Marketing Success- Part 2
2. Prune, modify and increase.
The first thing to do is see what's not working. If your ad is getting a very low response (which means the profit margin from the sales is not at least paying for the ad), kill it straight away.
Now you only have one option � improve your ad to ensure you get a great response.
There's a few things you can do to make the task simpler.
1) Go back over your past ads and think about how well each one worked. Pull out the best couple and see if you can pick what gave them their edge.
2) Next, read a couple of books, or at least flick through them.
3) Last, look at what your competitors are doing. Do they have an ad that they run every week? What can you learn from it?
Go through this process with each marketing piece you are currently using� Kill, examine, modify� Kill, examine, modify� Remember � the true test of a marketing strategy is whether it pays for itself. If you run an ad that costs you $600 and it makes you $1,300 in profit, then it's a good ad.
Also run through each of the strategies you know are working in depth, examining why these are producing results and the others aren't. See if you can pick the one important attractive point about each. This in itself will teach you a massive amount about your business.
Next, think of a way to use each strategy that is working on a larger scale. If it's fliers, the answer is simple � drop twice as many fliers. That should bring twice the sales. If it's an ad, run it in more papers, or increase its size. If it's in a phone directory, book a bigger space next time.
But whatever you do, don't meddle � just do the same thing on a larger scale.
The first thing to do is see what's not working. If your ad is getting a very low response (which means the profit margin from the sales is not at least paying for the ad), kill it straight away.
Now you only have one option � improve your ad to ensure you get a great response.
There's a few things you can do to make the task simpler.
1) Go back over your past ads and think about how well each one worked. Pull out the best couple and see if you can pick what gave them their edge.
2) Next, read a couple of books, or at least flick through them.
3) Last, look at what your competitors are doing. Do they have an ad that they run every week? What can you learn from it?
Go through this process with each marketing piece you are currently using� Kill, examine, modify� Kill, examine, modify� Remember � the true test of a marketing strategy is whether it pays for itself. If you run an ad that costs you $600 and it makes you $1,300 in profit, then it's a good ad.
Also run through each of the strategies you know are working in depth, examining why these are producing results and the others aren't. See if you can pick the one important attractive point about each. This in itself will teach you a massive amount about your business.
Next, think of a way to use each strategy that is working on a larger scale. If it's fliers, the answer is simple � drop twice as many fliers. That should bring twice the sales. If it's an ad, run it in more papers, or increase its size. If it's in a phone directory, book a bigger space next time.
But whatever you do, don't meddle � just do the same thing on a larger scale.
1 Comments:
The hope of increasing sales by increasing marketing efforts will definitely produce results. However, as marketing efforts increase they eventually run into diminishing returns as the target market dissipates. At this point it is important to increase the effectiveness of your sales force to futher penetrate your market. It is important to incorporate sales training that is relevent to your business environment.
Action Selling Sales Training is a proven system for managing and conducting the entire sales process. It applies to any industry and will dramatically improve the performance of salespeople with any level of experience. Anyone who is serious about selling should definitely check this out.
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