Home business articlesMarketing  ecommerce  home based  online internet business  free course
  16 hours of free training in just 5 minutes a day. Teaching you how to grow your online
internet business,
by learning about marketing your home business or ecommerce website with
easy to understand articles.
 
Sign Up Here To Get Free
Business / Marketing Tips
Name:
Email:
  Home              Index Mission Statement Links                  Articles

Sign Up Now

Google
Web .foxonlinelearning.com

 

 

 

7 Ways to Evaluate Your Marketing Plan

by Stuart Ayling

Business owners often find it difficult to know whether their marketing tactics are working. This can be especially tricky when you use a combination of marketing activities simultaneously, or if using personal-contact tactics such as networking. No matter what business you're in, your marketing should be accountable. So here's a few ways to evaluate how well you're doing.

1) Look at your sales (or fee income). They should be going up! But be careful about what you measure. Some firms have a longer sales cycle than others. To get an accurate picture you might need to also measure the number of new leads being generated, or the number of appointments, or the number of billable hours achieved. Remember discounts or variances in fees will affect total sales values.

2) Ask your clients. Check to find out where they heard of you. Most businesses never ask this question and miss out on gleaning valuable insights into how clients select a service provider.

3) Does your advertising and/or promotional activity produce direct responses? It should. If your answer is "I don't know" then you've got some work to do. In addition to2) above, there are some things you can do to improve response rates.

* Firstly, make sure you are advertising in the right media. Choose media to suit your selected audience. Be as specific as possible. And avoid rejecting options just because they don't look "exciting", such as trade journals that might have relatively small readership. Importantly, check with your audience to make sure they actually do read the publication.

* Use a strong headline that asks a pertinent question, or gives a solution-oriented statement. * Include a clear call-to-action. Tell people what they should do. For example: Ring today for your free appointment; Ask for our free information sheet.

* Include multiple methods of contact. Phone, email, and web site are all important. Give prospects a choice of how to contact you

. 4) Do your networking activities create new opportunities for you? One of the major principles of effective networking is to "give" rather than "sell". That is, you should look to help others as you spread word about your services. But this softly, softly approach can make it hard to measure effectiveness.

To measure your networking activities make sure you track the source of incoming enquiries. Then see if any of your visible/tangible tactics can be credited with generating the enquiry. If not, then maybe you can safely say it was a referral generated by networking. This is made a lot easier if you're a member of a lead-generating club such as BNI or Leads. You'll get specific feedback each week from these groups.

5) Do your marketing tactics make it easier to sell your services? To do this your marketing activities and/or material should do the following:

* Attract qualified prospects (who have shown a specific interest in your services). * Anticipate and diffuse potential questions/concerns from prospects.

* Be easy to use when personally selling to prospects. For example: material should be relevant; images/charts easy to understand; and be presented in a format the prospect will be likely to keep.

* Focus on your client needs and your points of difference (Unique Selling Proposition).

6) Check your sales conversion rate. The best approach here is to look at your historical records and determine whether your conversion (or closure) rate has improved. "Selling" is an important part of the "marketing" function, so make sure you assess your success at closing the sale, rather than just focus on generating new leads.

7) Does your plan have a positive return on investment (ROI)? Does it bring in enough new/repeat business to justify the expense? Rather than just look at the "marketing budget" as one total, you really need to evaluate the cost effectiveness of each specific marketing activity. Even if you think you're getting a great ROI overall, maybe you can do even better by changing or eliminating unproductive tactics.

About The Author

Stuart Ayling runs Marketing Nous, an Australasian marketing consultancy that specialises in marketing for service businesses. He helps clients to improve their marketing tactics, attract more clients, and increase revenue. For additional marketing resources, including Stuart's popular monthly newsletter, visit his web site at www.marketingnous.com.au.

Have a nice day!

Google
 
Web www.foxonlinelearning.com
 

 

Home Business Ideas
Blogging / Podcast

Affiliate Marketing

Customer Service
Email Marketing

Entrepreneurialism
Ezines

Google
Linking Strategies

Negotiation

RSS

Security

SE Optmization

SE Tactics

SE Submission

Small Business

Technology

Team Building

Social Networking
Venture Capital

Video Marketing

Web Design

Web Development

Webmasters

Website Promotion

Website Traffic

Site Map


Business Marketing
Tips Index:

 
 

 Ecommerce

 

 Business

   Selling
   Advertising
   Management
   Planning
   Marketing
         
1 2 3 4 5
6 7 8 9 10
11 12 13 14 15
16 17 18 19 20
21 22 23 24 25
26 27 28 29 30
31 32 33 34 35
36 37 38 39 40
41 42 43 44 45
46 47 48 49 50
51 52 53 54 55
56 57 58 59 60
61 62 63 64 65
66 67 68 69 70
71 72 73 74 75
76 77 78 79 80
81 82 83 84 85
86 87 88 89 90
91 92 93 94 95
96 97 98 99 100
101 102 103 104 105
106 107 108 109 110
111 112 113 114 115
116 117 118 119 120
121 122 123 124 125
126 127 128 129 130
131 132 133 134 135
136 137 138 139 140
141 142 143 144 145
146 147 148 149 150
151 152 153 154 155
156 157 158 159 160
161 162 163 164 165
166 167 168 169 170
171 172 173 174 175
176 177 178 179 180
181 182 183 184 185
186 187 188 189 190
191 192 193 194 195
196 197 198 199 200
         
         

 

 

Home & Index
Mission Statement
Links

Sign Up Now!
to get Free
Busines & Marketing Tips

Unlimited 

Autoresponders by AWeber


Go Daddy $12.99 Turbo SSL Sale!   Yahoo! Small Business   25 businesses you can start and run from your home
    Free Articles - Home Business. Ecommerce, Marketing covers USA, New York, Seattle, Philadelphia, Washington DC , Chicago, Baltimore , Atlanta, Dallas , San Francisco, Canada, England, Ireland , and India    
         
Previous Article   2009 Foxonlinelearning.com   Next Article