Tell me honestly:
How do you know which of your marketing efforts are working?
I know it sounds like a silly question, but I’m really asking. You’d be surprised how many business owners get this wrong!
Here’s an example: Say you send out 5,000 pieces of direct mail and get 10 responses.
Only 10, you say? That’s not good! Not so fast!
Here’s what you may be MISSING if you’re only counting phone calls…
Say you spent $2,000 to send out those 5,000 pieces. Ten calls doesn’t look like a very good response, does it? But say of these 10 calls, you close 6 and get immediate sales of $12,000.
That’s $10,000 of profit — a 500% ROI (return on investment)!
Always make sure you’re measuring your ROI, not just your response rate.
It’s all about the MONEY. Profit is gained when more money comes IN than goes OUT.
Duh. I know.
But when you’re tracking marketing results, it’s easy to overlook the REAL returns. Don’t be discouraged when a small number of people respond to a large number of pieces.
If more money is coming IN than you spent on the campaign, it’s working!
If you spend several hundred dollars on a few thousand marketing pieces, it may only take a handful of responses to make enough profit for it to have been successful.
Response rates are deceiving. Profit is what counts!
If you spend one-fifth of what you generate — or generate five times what you spend — your campaign is a success!
But there’s more to think about:
Let’s go back to the hypothetical at the beginning, with the 500% ROI.
You made $10,000 immediate profit — that’s not even taking into account future sales from those 6 new customers! OR the people who hang onto your postcard and respond in 6 months, or a year.
It could add up to hundreds of thousands of dollars… all from an initial outlay of two grand.
Recently, a prospect who has been in my database since 2006 spent almost $4,000.
The initial mailing that captured her attention and then her contact information paid off a decade later!
You MUST track the results of each marketing campaign so you can weed out the unsuccessful ones and strengthen the successful ones. But be sure you’re measuring your ROI, not just your response rate!
If you’re tired of tracking your marketing results manually, we’ve created a 100% automated service that promotes your business EVERYWHERE your prospects are PLUS gives you all the tracking tools you need to see how your marketing is performing at any time…
With Everywhere Small Business, we create digital ads that match your postcard and automatically display them via Google, Facebook, and Instagram to the same people you mail to for maximum exposure.
Plus we track the following for you:
- The date your postcards hit mailboxes
- How many people call your business from your marketing (via a special phone number) — AND we record these calls so you can check in on your sales processes and improve them
- How many people click on your Google, Facebook, and Instagram ads
- The number of people who get shown your online ads (aka impressions)
You don’t lift a finger!
The best part?
It only costs pennies more per piece than a traditional postcard campaign!
And remember this:
It’s A LOT easier to sell a prospect once you get them to call or come into your place of business. Direct mail marketing is a two-step process: Step 1 is getting them interested; Step 2 is having them speak to a representative to get all the details.
If you send out enough promotion, you WILL make sales.
This is just one of the fundamental marketing philosophies we go over at our semi-annual Small Business Owners Growth Summit.
Have you signed up yet? It’s happening April 3-5, 2019.
You can spend a couple days in beautiful Clearwater, Florida with other small business owners (and me!). You’ll learn a wealth of valuable information about marketing across all platforms that you can take back to your business and put into practice right away!
Register today for this super fun, super informative event!
Looking forward to seeing you there!
*This article is adapted from my new book, Postcard Marketing in an Online World. Click here to read it.