As a marketing agency, we know the importance of making sure that the techniques each client uses are not only working but also delivering value.
Particularly around the area of content marketing which is largely about reputation and positioning yourself as the expert in your field, it is crucial to have a rounded understanding of what your marketing is delivering.
Here are four great things to think about when it comes to this!
Are People Talking Positively About The Services You Provide?
We all want people to talk about our brand positively and this should not just be your current customers. Does your marketing lead people to talk positively about the services you provide?
This encompasses them actually knowing which services you provide and then knowing that you do a great job. They may not need you right now, but when the time comes you will want to be their go-to solution when they require it!
Do You Know Where Your Enquiries & Sales Come From?
This is a crucial point that a lot of people overlook! The simplest way to know what direct form of marketing is working is not only knowing where your enquiries come from, but also your sales.
This includes keeping track of things like your sales conversion rates and also knowing this by their direct source in order that you can assess which technique is the most effective.
However, you should be careful not to be too quick to attribute sales and enquiries directly to one source as there could be other influencing factors along the way (such as an enquiry coming through Google Ads, but the customer having seen your brand on social media and also recommendation).
Do You Know The Lifetime Value Of Each Customer?
This is a crucial factor to know and one that is not always recorded. An example of this could be there the lifetime value of a customer is £50k (over ongoing work, one-off work or even referrals received) and the total gross profit generated by that customer being £25k.
As business owners, success is often in the numbers and therefore you should know your margins well, so say you generally spend a generous 10% on marketing. This means you can spend £5k to acquire this customer.
This is a vital point of knowledge as without it, say you spent £250 to acquire this particular customer and decided it was too much you could be missing out big time!
Is Your Brand ‘Sticky’?
The last point to assess is whether your brand is ‘sticky’ and what I mean by this is whether people not only buy fro you again and again but also pass on your name as a recommended business.
Your marketing needs to support this and a crucial point here is whether your marketing helps create ongoing value to your community!
I hope you found this article helpful! If you would like to discuss any of the points above then I would be more than happy to find a suitable slot in my diary. Just drop me an email at nathanbrown@robusmarketing.com.
Nathan
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