Small Business Marketing Help

There are six words that you absolutely need to ask every single customer that walks in your doors. Those six words are: How Did You Hear About Us? As a business owner it is extremely important to be able to know where each of your customers came from. Now of course I am not talking about where they were born, instead you need to know how each and every customer came to find out about your business.
Did they hear about you from a TV ad, a radio commercial, or maybe a print ad? Did a friend refer them or were they simply passing by and happened by your establishment purely by accident? These are the key things you need to know in order to help you track how well your various marketing efforts are working for you.

In the following example let’s say you have a marketing budget of $5,000 split up in the following manner; $3,000 for radio and $2,000 for print advertising. Now let’s suppose 100 new customers hear about and visit your company in a given month; 55 from your radio commercial and 45 from your newspaper ad. $3,000 divided by 55 customers means that your radio spot cost you $54 per customer. $2,000 divided by 45 customers means that your newspaper ad cost you $44 per customer. In this example, even though you received more customers from your radio ad, when you factor in the cost based on the number of new customers, it is clear that your newspaper ad resulted in a better return on your advertising dollars.

If you would have never tracked these results you could have gone on indefinitely putting most of your advertising dollars in the wrong advertising medium. Always remember that in order to be successful in any business you must be willing to take the time to track your results. How can you determine where you want to go if you have no clue how you got where you’re presently at?

Originally posted 2011-10-07 21:11:08. Republished by Blog Post Promoter

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