The Headache of Marketing
Let's face it - marketing and advertising is a total headache... Some may even say it's a waste of time. I just met with a guy earlier this week who's been growing his business for five years now and he barely spends a dime on marketing! I met with another guy who's been growing his business for thirty years and he spends a lot on marketing! It seems like there's twenty different ways to accomplish the same goal, which can be a bit of an overload for us. My aim is simple: I want to make things very simplistic. The key to finding the best marketing strategies is understanding return on investment.
“The key to finding the best marketing strategies is understanding return on investment.”
Return on Investment
How much do you spend on marketing today? Find that number and then answer this question: "How many leads do those dollars produce?" From there, you'll have a basic understanding of how good or bad your return on investment is. If leads isn't your marketing goal, then you can look at engagement, or impressions, etc. The key is that whatever variable you choose needs to be quantifiable. Now that you're looking at hard data from hard numbers, you can accurately determine which marketing strategies work and which ones don't.