Marketing Fool: Someone who continues to perform the same action and honestly believes he or she will have a different result.
So how do you avoid this fool’s errand? Constantly tweak your marketing and never rest on your laurels.
Are you just sitting back expecting the money to roll in?
If so, you need to understand that marketing is much more than just sending one piece to potential customers or creating an ad on the Internet.
Two critical components to the success of any marketing strategy – tweaking and measuring!
Tweaking involves making minor modifications to your website, direct mail campaigns, even presentations to obtain results, and potentially an increase in profit. And measuring is an important task to see if those changes are actually bringing in revenue. Though timely, both tweaking and measuring are the keys to improving your response rate!
What Marketing Works for Your Business?
A 24/7 Salesperson: Your Website
Simply getting potential customers to your site is not enough…Google Analytics is a powerful measurement tool including:
- What’s the average time spent on your site? For example, if visitors are staying for a small amount of time – say around 10 seconds, there’s probably something that’s turning them off – be it the copy or the images. If so, it’s time to tweak!
- What Internet Ads yield the highest conversion rate? For example, you might find out that your Yellow Pages ad converts 1 out of every 100 visitors, but you might convert visitors from Google at a rate of 4 out of every 10 visitors. In this case, you could drop your Yellow Pages ad and concentrate your marketing dollars on more lucrative websites. By running split A/B tests, you can tweak the ads that aren’t working and keep the ones that are for a possible overall increase in response rates.
- Determine what day you have the highest activity on your website, so you can “tweak” your email marketing campaigns and send out email promotions on those high traffic days.
- Find out where people are abandoning your shopping cart, so you can tweak your shopping cart process, making it easier for visitors to make purchases and thereby, increase your sales.
Knowing the answers to these questions and more will help you to know what is working, and what needs tweaking. Many of our clients benefit from us interpreting their website reports and making the appropriate tweaks to the marketing for them on a monthly basis.
Tracking Direct Mail on Your Website
The Internet has literally changed the role of direct mail! A 2004 Direct Mail Association study indicated that 33% of direct mail recipients prefer to respond online. Intrigue prospects by adding personalized URL’s to postcards or other direct mail pieces (some clients report a 10 – 25% response rate compared to the average response of 2-3%!) in combination with a VIP landing page developed specifically for your campaign.
Today’s digital printing technology allows for you to send specific messages to each of your prospects – called “variable printing.” This allows you to automatically personalize each postcard with the person’s first name or company name, as they are being printed. You can also create a list of “A” clients and “B” clients and send different creatives to each list without expensive set-up charges. It also means you can mail fewer, more targeted pieces for a better ROI.
For the best return on investment, make sure your direct mail project is a campaign, not a one-shot chance. For example, you might mail your prospects one letter, a personalized post card and then send an email. Nowadays must make a number of contacts (anywhere from 3 to 23 times!) before they will remember seeing your message and respond.
Placing a Print Ad is Not Enough Anymore
Don’t place an ad in the newspaper or Yellow Pages with just your logo, phone number and website! Entice your audience with a benefit driven headline and a compelling offer such as a free gift with purchase. Measure results by asking new customers how they heard of you or create a specific 800 number, unique domain name, or email for them to respond to. Then, remember to track your results and measure them against your other marketing campaigns to determine which campaigns are returning an investment.
Tweak Your 60-Second Commercial
Great marketing is not just print and online material…it also relies on your personal sales skills. If you are not satisfied with the number of business cards you are getting or with your conversion rate, consider tweaking your sales pitch.
How Do You Measure Up?
You can’t be successful without measuring the efforts of your advertising dollars. Compare your results to those of industry standards to see where you rate. According to the Direct Marketing Association, the average direct mail response rate is 2.77 percent, email is 2.48 percent and telemarketing is 8.55 percent. According to FireClick statistics, e-commerce websites enjoy an average of a 2.3% conversion. However, there are many factors involved which include number of prospects, target market and how effective your message is.
Average Response Rate
Your Response Rate
TBD by YOU
TBD by YOU
Thrive Marketing is a Phoenix marketing firm specializing in website design, full-service search engine optimization and Pay-Per-Click (PPC) online advertising services. Thrive offers the expertise to assist with your marketing campaign so that you will see better results and a return on your investment. Every thing we do is done with the end result in mind: more clients for your business.