If you don’t know what the ROI is on your marketing dollars, you’re flying blind. And, you could also be throwing money out the window.
This episode below of the Nuclear Chowder Show is about a really simple little method to know if your advertising and marketing is working or not. It’s so simple that when people hear it, they smack their forehead like in those V8 commercials. “I coulda been making more money!”
I decided to film this after a meeting I had with Kurt Mazurosky from Prime Publishers who publish Voices and The Town Times. Kurt and I were talking about advertising and he told me a fantastic story about an advertiser who didn’t realize he was leaving money on the table. This simple strategy saved him money and made him even more.
When you know exactly where your customers are coming from, you have some very powerful information. Holding marketing and advertising dollars accountable is crucial to growing your business.
When you understand this stuff, it actually becomes just a simple math problem to get even more customers. Here is a quick case study from a client of mine.
For one year, he knows that 30 new clients came from searching for him on Google which is what he hired us to help with. Keep in mind, this is a high ticket item and for him, 30 clients in a year is a lot. When I owned the martial arts school, we would bring in 30 new members in a month.
His average ticket item is $3,500. So 30 multiplyed by his average ticket is: $105,000.
What he knows from his numbers is that the search engine marketing we do for him works, and works in a big way. He can also make some assumptions based on this knowledge. He knows the dollars he spends brings in a lot of money therefore dollars well spent. Many times, people will stop investing in marketing that was working because they thought wrongly that it wasn’t. He also knows if he doubled his budget, he could very well double his results.
You can only make these kinds of assumptions when you have the data. So in the video I talk about a great way to get this data.
It’s very simple.
Leave your comments here and let me know if you’re already doing this and how it has helped your business. If you don’t yet use this system, let me know how you plan to implement it.
Make sure to stop by the Nuclear Chowder Show again… And make sure to check out other posts here on the Nuclear Chowder website.