If you're a hungry entrepreneur, you're always learning how to get more qualified leads.
If you can get leads for your business that are responding to a special offer or who have taken a step toward you because of your marketing efforts, you're just steps away from getting a new customer.
So it's critical to measure the leads that your marketing is bringing in, and that the message and offer of that marketing is in sync with your business goals.
Entrepreneur Magazine published a great post examining this very issue in, Why Tracking Marketing Metrics Can Pay Off. The article emphasizes profiling your ideal customer and discovering the media to best target that client by using response measurement and metrics..which just happens to be the primary focus of the TeleCapture service.
...understand that most marketing and advertising campaigns are pure failure. They don't work for a variety of reasons.
So the difference between response-driven marketing and branding-oriented marketing is that you can track, test and measure the first type and adjust it until it is right for your business.
Why is it so important to track, test, and measure? You need to establish baseline performance numbers for your company in your particular category of business and then to try to improve upon them.
Brad Sugars made tons of great points in his post, but these few lines caught my attention. “Most...advertising campaigns are pure failure.” Ouch. That's a big statement, but then he goes on to explain the difference between response-driven marketing and branding-oriented marketing. We can't help you with branding marketing, because it's impossible to measure. However, measuring response-driven marketing is what we live for. When you spend money on advertising, you should do it by the numbers. In other words, you should already know what the lifetime value of a customer is for your business. Then, once you know that, you can decide what kind of response you need based on your budget to actually make money for your company.
Like Brad said, basically, most advertising is a gamble. Smart business owners, though, mitigate their risk by putting measurement tools into action.
How do you measure your marketing?
One very practical way to measure your marketing is to test a small campaign and see how many responses you receive. For instance, you can send a direct mailing out to a small sub-section of your market, and include a custom URL for your website and a unique call tracking number. Then, using Google Analytics for your web results and a phone call tracking service for phone inquiries, you can measure the response you got from that direct mail. If you don't get much response, you'll know that you need to tweak things before going “all out.”
Instead of putting all your eggs in one basket with a huge direct mail campaign that costs $20,000, you can use this test method and only spend a fraction of that while measuring your response. Then, once you've narrowed in your most effective message, it's time to spend the big bucks because you know it will work. You have your numbers nailed down.
Measuring your marketing moves advertising from hopeful thinking to a numbers game. And that's where the profits live: in the numbers.
Have more ideas for getting qualified leads by measuring your marketing? Let's hear them!