Results Rule! Use Tracking and Measurement in Your Marketing
Results Rule! Use Tracking and Measurement in Your Marketing
With direct response marketing you can test two different marketing messages and see the results right away…no need to wait months or even a year to change out your marketing message. You can do a split test of two different marketing messages at low cost and you’ll find out quickly which one works better.
Doing the math to find the best results can be a little complicated but worth it in the final analysis. Promotion #1 may pull in new customers at $135.00 in cost and Ad #2 at $242.00 so you might think Ad #1 is the test winner.
But when you consider the average purchase amount of those coming from Promotion #2 is $410.00 with the average from Ad #1 being only $275.00. Now which is better?
Next, 30% of those from Promotion #2 may return and buy again within 30 days, while only 9% from Promotion #1 buy again. Now which do you think is better?
It’s not too complicated if you set up systems to capture the data you need. Then make time to analyze the data and keep running the promotion that’s bringing in the most money.
Or you can spend even less money and send out two different emails to two different parts of your customer list. Message #1 goes to first half of your list and message #2 goes to the remaining half. Each message directs you customer to take a specific action.
Depending on how many customers respond to which message you can calculate your results and determine which message got you the better sale. Then you can repeat the most successful message to bring in more sales during your next email campaign.
Results Rule Use Tracking and Measurement in Your Marketing - To learn more about this author, visit Elizabeth Ruiz's Website.
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Direct Marketing is the clearest way to answer these questions and measure results. If you use a TV commercial or yellow page ad the cost keeps you stuck with the same message with little way of testing the response rate.
With direct response marketing you can test two different marketing messages and see the results right away…no need to wait months or even a year to change out your marketing message. You can do a split test of two different marketing messages at low cost and you’ll find out quickly which one works better.
Doing the math to find the best results can be a little complicated but worth it in the final analysis. Promotion #1 may pull in new customers at $135.00 in cost and Ad #2 at $242.00 so you might think Ad #1 is the test winner.
But when you consider the average purchase amount of those coming from Promotion #2 is $410.00 with the average from Ad #1 being only $275.00. Now which is better?
Next, 30% of those from Promotion #2 may return and buy again within 30 days, while only 9% from Promotion #1 buy again. Now which do you think is better?
It’s not too complicated if you set up systems to capture the data you need. Then make time to analyze the data and keep running the promotion that’s bringing in the most money.
Or you can spend even less money and send out two different emails to two different parts of your customer list. Message #1 goes to first half of your list and message #2 goes to the remaining half. Each message directs you customer to take a specific action.
Depending on how many customers respond to which message you can calculate your results and determine which message got you the better sale. Then you can repeat the most successful message to bring in more sales during your next email campaign.
Results Rule Use Tracking and Measurement in Your Marketing - To learn more about this author, visit Elizabeth Ruiz's Website.
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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