Steps,Measuring,Marketing,Resu marketing 5 Steps to Measuring Marketing Results
Awhile ago, I got an email from one of the "gurus" I follow and it shocked me. The gist of it was this person wanted to trade services for a household item.To say it floored me would be an understatement.What was worse was a few days later t Automation technologies represent a fundamental aspect of any modern industry. The major types of industrial automation solutions, such as DCS, PLC, SCADA, and MES, are used on a large-scale in process and discrete industries.DCS technologie
Normal 0 false false false EN-GB X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-priority:99;mso-style-qformat:yes;mso-style-parent:"";mso-padding-alt:0cm 5.4pt 0cm 5.4pt;mso-para-margin:0cm;mso-para-margin-bottom:.0001pt;mso-pagination:widow-orphan;font-size:11.0pt;font-family:"Calibri","sans-serif";mso-ascii-font-family:Calibri;mso-ascii-theme-font:minor-latin;mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin;mso-fareast-language:EN-US;}We all want to make sure we get the best return on ourmarketing investment, whether it is advertising, email marketing, telemarketingor any other type of lead generation activity. There are very few businesspeople who would seriously debate that point - and especially in these tryingeconomic times, you want to make sure that every pound is well-spent. The ability to measure marketing results is one of the keymarketing skills that any business should be continually trying to improve. Why,then, do I often see companies marketing and not doing enough to properlymeasure the results? In business, as well as in life in general, there is awell-used management process that goes something like this: 1. Plan2. Execute3. Review4. Return to step 1 Each time we move through this loop, we should be gettingbetter at what we do. Carrying out each step thoroughly is important if thisapproach is to work for you. Now, focussing on step 3 Review, lets take a look at the5 key steps to help you measure the results of your marketing efforts. Step 1 - Know thesize of your opportunityYou should spend time researching the approximate size ofyour market. Stands to reason, doesnt it? How else can you know whether, forexample, 150 new business leads per year is a good performance or not? If yourmarket is very specific, there might only be 300 companies you can sell to. Inthis case, 150 leads isnt bad. However, if your potential market is 3,000companies, you need to look closely at how you are targeting your marketing. Step 2 - Build inyour measurement methodThe review step needs to be based on hard facts ratherthan opinion. This means building into each campaign a way of measuringsuccess. This is especially true if you are running a range of campaignsthrough a selection of media (which you should be).A letter-based campaign should include a tear-off orfax-back that carries a reference number. This will enable you to track howmany enquiries come back from each campaign. You can do the same for your email marketing campaigns byusing landing pages on your web site to count responses. If you receive inbound sales enquiries, build in a questionto find out where the prospect heard about you and equally important, makesure this information is properly summarised and reported. Step 3 - Measure throughto the saleIts a proven fact that sometimes a marketing campaign thatyields a good number of enquiries results in very few appointments or sales.Measuring only enquiries will mislead you into doing more of the same campaignactivity whereas if you track each campaign through to sales, you would makea different decision. Step 4 - Review yourresults regularly...Its all very well measuring your marketing campaignresults, but of course you must also take the time to review the results anddecide what they are telling you. You should do this at least once per month. Step 5 - ... and havean open mindOne of the big benefits of measuring your results properlyis that it takes away much of the opinion about what is the right marketing.You may well have people in your company who swear by a particular way ofmarketing. Quite simply, measurement will either support that opinion or itwill not... and the evidence will be clear for all to see. So, if you want to focus on the key marketing skills thatyour business needs in order to prosper, take a close look at how all thiscould apply to you.
Steps,Measuring,Marketing,Resu