Archive | March 2015

Is My Marketing Effective?

measure-marketingYou see the marketing expense on your income statement each month. How do you know whether or not it was effective?

First, think back to your original marketing goal. Are you trying to build brand awareness in an overcrowded market place? Are you trying to create product differentiation? Are you trying to create positive association with your brand? Once you know your goal, look at the tactics you used and the call-to-action. Were you able to track these tactics?

Tracking marketing tactics is essential to determining the success of your campaign and how it affects your bottom line.

Not every tactic is so easily trackable, but most are, and below are a few easy solutions for those more common tactics so you can more efficiently track your effectiveness.

  • Newspaper and Print Materials: Use a tracking number that redirects to your main line. This will tell you how many people called from those materials.
  • Digital: Determine what your conversion goals are. Is it a form they fill out, a blog they subscribe to, a button for more information? Make sure you’re tracking conversions as well as traffic patterns on your website. What pages are they visiting, when do they leave the website and so forth.
  • Direct Mail: Do you have a specific call-to-action? Include an offer they can bring in or include a code for online purchases.

Adding tracking helps to determine effectiveness of your marketing spend and can tell you what your target audience gravitates towards in regards to messaging and tactics.

To find out more ways to identify if your marketing is effective, call Measured Intentions at 515.868.0240.

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Can My Referral Program Replace My Advertising Program?

referralReferrals are by far the best way to earn business. Referrals eliminate the fear of the unknown and create a trusted relationship right from the get go. Getting referrals is more than simply asking. You must have a calculated referral system. Companies with strong referral systems can garner an average of 45-50% of their business from referrals.

Lately, many people have said, “I have a great referral system. I don’t think I need an advertising program.”

You need both. Let us give you an example.

One of our clients (let’s call them client A) has a strong referral system – over 60% of their business is from referrals. So where does the other 40% of the business come from? Advertising campaigns.

Another client of ours (let’s call them client B) is just starting and is just building their referral program. Currently, only 10% of their business is from referrals. So where does the other 90% of their business come from? Advertising campaigns.

While Client A and Client B’s marketing spend may be the same, Client B places substantially more of their budget into an advertising campaign while Client A places more of their business into retaining business. This may mean client entertainment, client appreciation, or client recognition.

Bottom line, a good advertising and marketing program has three goals: Attracting new clients, retaining current clients, and gaining referral business from current clients. While one of these points is not more important than the other, the amount of budget allocated to each can differ significantly.

Want to learn more about successful referral programs? Check out this article, 5 Tips For a Successful Customer Referral Program, or give us a call at 515-868-0240.

 

Women in Leadership

Women leadership is not a new concept, but it’s one that is gaining more visibility and acceptance quickly.

The stereotypes are being torn down and women are achieving as much, if not more, than their male counterparts in many industries. While many think these are beauty, fitness, and fashion-led business owners only, the truth is that every industry is now seeing achievements and successes with female leaders at the helm.

Measured Intentions is proud to be a women-led business. To make us even more unique, we have a staff of mostly women, most of whom are working moms. So we know a thing or two about multitasking and prioritizing.

We were even featured in the latest edition of DSM Magazine – Women Who Mean Business. Check out the article here!