As with any marketing activity or task, marketing isn’t just a tick box and it isn’t something to do within your business just because. Measuring your marketing for results, sales, progress, ROI and so on is important of course, but you will only do this if you see a benefit, so what should you measure and why/what will this tell you?
As small business owners, we want the most out of our budget and efforts, so let’s get measuring. You cannot argue with hard facts and quantitative stats after all.
What we should measure in our marketing?
Make a note or list or ideally a spreadsheet of all the marketing you do in your business and what channels you use and what campaigns you have sent eg listing networking events, noting all your social media profiles, advertising placed and so on. Then monthly, or at regular intervals, measure this activity in a simple report noting key areas like the number of likes/follows, number of leads and the source of the lead, number of visitors online or in person, sales made, profit made and so on. Other areas to measure include your website traffic, email opens, and growth of your database. Add in your goals and KPI’s so you can cross check progress against these and get that well deserved sense of satisfaction. Digital or online marketing is easier to measure granted, but offline marketing can be measured if you ask the questions to enquirers, customers and referrers.
What will this marketing information tell us?
After measuring your marketing by looking at report, note the numbers. Not just for growth, as quality is better than quantity, but observe any patterns and trends such as growth in engagement or likes, increases in sales, correlation of activity leading to sales, leads and sources of referrals. Then you can do more of what is working and really focus.
Knowing your numbers, gaging your progress and having a handle on your situation will show you your why. It will show you where is the best place to spend your time and money, so you get the most value from doing marketing.
Measuring the numbers and being aware of your current reality will help your business make informed decisions when it comes to your marketing, meaning taking less risks and eventually saving time and money.
Are you look for more help to measure your marketing? Or to learn how to get consistency with your marketing? Take a look at Pinpoint’s new marketing guides and templates
Or if you would specifically like help with measuring, ROI and accountability on a regular basis, maybe check out our accountability and consultancy package