You are “open” for business, the next step is to get customers through the door. Where do you start? Many local businesses start advertising and hope for the best. This is one of the few cases where anyone spends money at the off chance that there will be a pay back.
The fact is, there is little evidence that any one campaign or piece of marketing collateral is going to generate sales. Conventional wisdom states that it take three exposures to your target market for to a message to be received and even then customers may not have an immediate requirement for the product or service.
The goal of any Marketing Campaign is to create a positive impression and to put your business top of mind so that customers think of your business when they are ready to purchase. The challenge is therefore to develop a geotargeted community based marketing campaign that works for your business.
So how do you choose the right promotional mix and how do you know what works? One way to know is to measure the results. Sounds complicated, but this can be as simple as noting what was happening before and after a program is implemented. For example, the amount of traffic before and after a web site update, starting blogging activity or pre and post customer mailings. Coupon and loyalty programs where customers sign up for deals and points that can be used for future purchases are also ideally suited for tracking customer activity. They are great for showing customer appreciation and for Shop Local campaigns.
The way to calculate actual numbers is to capture spending on marketing and the incremental increase in sales for a set time period. Use this information to calculate your Return on Investment. This is one way to know if the promotion is reaching your target market and if it appeals to them. Remember there are many approaches and what works at one time may not work at another time. The key is to experiment and to be creative. Sometimes it is a good strategy to do more than one thing. Continue with the promotions that work and stop the others.
Here is a an opportunity to get an Assessment of your spending on Marketing. We review your website, brochures and any other types of promotions you are doing and see if they are meeting your requirements.
We then prepare a proposal of what we think will be most effective. Call us to get a “Marketing Spending Check-Up”.