It surprises me how many National Grocery Stores are using print advertising to display their deals of the day or instore promotions with no way of testing and measuring the advertising budget and return on investment for that particular add. I speak to alot of small business owners and when I walk them through a cost to aquisition exercise and reveal the figures to them they quickly realise the importance of being able to test and measure their marketing efforts to better manage their marketing budget.
After all, if you can acquire a new customer for less then what you spend on advertising then it makes sense to allocate more money in that particular area, Seriously How much return is your investment in marketing generating? Too many business owners spend money on advertising without any idea on how much revenue that advertising brings in. It’s the difference between cost and investment.
Many businesses when asked “How much business has your $1000, $5000, $20,000, $100,000 or whatever bought in?” most business owners give a blank stare and admit that they have no idea. Which surprises me because they can answer, when it comes to investing thousands of dollars in a salesperson and know how many sales a particular salesperson has made and the kinds of return on investment, they are getting when measuring sales profit against salary or wages, but they have no idea on return on investment when spending thousands in advertising and marketing.
It is relatively easy to set up a measuring system to find out how leads are being introduced to your business. Often it is as simple as asking every phone caller or every face to face caller to your business “Do you mind if I just ask you, how did you hear about us?” If every piece of marketing has a reference code this makes identification of what’s a good investment easier.
One of the Advantages of Mobile marketing is your ability to measure the success of an advertising campaign through use of QR codes which serves two purposes, first is the ability to bring customers off line online and secondly it can be applied to various print campaigns, Having recorded this information it is easy to analyze it and determine what marketing is working for you.
Using QR codes in your marketing material directs your customer to what ever mobile website page you like, it can be to a coupon discount page, specials of the day, an event the choice is yours and if done correctly you can use QR codes to build your own SMS or MMS contact database, which is another reason why many businesses are now using Mobile Marketing as part of their Marketing Strategy.
About the Author:
Jayson Herewini is a respected loving father, leader and owner of a NZ based mobile and marketing communications company that specialises in mobile marketing, advertising, mobile apps and mobile websites. They take pride in helping small smart business owners, consultants, service professionals authors, specialists and coaches capture, respond to, gather knowledge of and follow up with every prospect who comes into contact with their mobile websites and apps. Visit www.mobiletraffic2.com and take us up on a 14 Day FREE Trial.
We are a NZ based Mobile Marketing & Communications Company, which specializes in providing a 360 degree mobile marketing service for our customers. Our goal is to astound customers by giving...