One of the most important things a business owner can do is track the way their marketing and advertising dollars are working for them.
Far too many business owners spend money on ads and determine the effectiveness of the ad by the number of leads the ad produces. But it’s not always about how many leads an ad or marketing piece can produce, there are several additional factors that must be considered.
In this short video, you’ll learn how to compare various marketing venues to see what kinds of results they’re generating, which ones you should consider spending more money on, and which ones you should try tweaking to see if they can be even more effective.
One important thing to remember, is that if an ad in a particular medium (newspaper, magazine, radio, TV, etc.) ad isn’t as effective as the same ad in another medium, doesn’t mean you need to pull it or stop running it. As long as that ad is producing a profit, continue to run it. It’s still pulling in profitable business that you wouldn’t otherwise have. Dont’ don’t stop there… see what you can do to tweak the ad to make it even more effective. Sometimes it’s that simple, small adjustment that can mean the difference between massive success and profits, and a small or mediocre response that barely breaks even.
One final point… on the last calculator, you’ll see some “Percentage Increases” that seem over the top. Fact is, they are. There was a mistake in the way the calculator calculated them. But don’t let that stop you from seeing the actual “Net Revenue” increase that can be had with a few simple adjustments.
If you’re a business owner who’s looking for a way to determine how to calculate the way your ads are adding leads, customers or profits to your business, plug your own numbers into the calculator and see what you come up with. You may be surprised at what you find out.
If you’re a consultant working with business owners, or you’re looking for ways to attract more clients, do the same for them. It’s surprising how few business owners know the actual effectiveness of their advertising spend. Show them the results of their own advertising on this calculator, and you’ll find them wanting to learn more about how you can help them.
If you have any questions about how the calulator works or would like to discuss it or how to use it further, please let me know. As always, I’m anxious to help you build a more successful consulting practice by adding additional value to your clients and prospects.
Martin Howey, CEO
TopLine Business Solutions.
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