Last week I was in the Barossa Valley, I was doing a little bit of a mastermind with a bunch of friends who are very successful business owners, very smart people. I was talking to a chap from New Zealand, a very good friend of mine, and we were discussing his marketing campaigns.
In his case, he was doing a ton of different marketing strategies; direct mail, Facebook ads, Google ads, SEO, a whole bunch of things, but they had no process for measuring the outcomes of these particular campaigns. So it kind of brings me to the point of the video. I get asked all the time: “what is the best marketing strategy for my business?” And the answer is: the one that you’re good at and the one that you can do two things with…
The two things in your marketing strategy you must be able to do is:
– You must be able to measure it and;
– You must be able to control it
So if there’s no measurement process, if you cannot see the results of every specific step in your process, if you can’t measure those, then you can’t control them. You can’t make changes to adjust and improve each of the steps in the process.
In my particular strategy we have about six different levers that we pull. And we have six different measurement points throughout the entire process so that we can improve the engagement of the ad, so that we can improve the opt-ins of the ad, so that we can improve the consumption of the information and the number of sales calls we get, and the number of sales we get and percentage of retention we get as well.
Without the ability to measure, you have no real idea what’s working. So you’ll just be running around doing tons of marketing things, potentially blowing a whole bunch of your budget, and you’ll have no real idea on the return on your marketing investment that you’re getting. So those are the two things your marketing strategy must do. You must be able to measure it and you must be able to control it. So without measurement you have no control.
So instead of just throwing heaps of marketing out there, find the thing that you can measure. Find the thing that you can do consistently, and find the thing that you can control. In other words, you can adjust the levers to improve your marketing return. Have fun!