Basic marketing metrics for business

BYTRADEBYTRADE Posts: 63subscriber Bronze Level Member
edited December 2011 in Marketing
Here are four tips for gathering the information you need to make wise marketing investment decisions.
Use a DatabaseStart by designing a database to keep track of individual marketing efforts and the leads and sales they generate. Make sure you include fields to track the dates of your campaigns, campaign descriptions, the number of leads generated and sales made. Once you have a central storage location for this information you will be able to make queries to glean the information you need to make wise marketing decisions.
Ask QuestionsWhen you or your staff speaks with a prospect on the phone make sure you ask how they heard of your business; was it a referral or an ad in the local newspaper? It's such simple way
to gather valuable information many small business owners overlook it.
Be sure to ask your prospects how they heard of your business.
Make It Easy for Your Prospect to Help YouMake it easy for your prospects to properly identify the marketing piece to which they respond. If you have multiple phone lines into your office you can easily accomplish this by assigning a unique phone number to individual marketing efforts. This way, you or a staff member can ask what number your prospect dialed or, if you have the right phone system you can look at the phone to see which line the call is on.
Data Entry Should Be Easy TooOnce you or a staff member have garnered the information you seek from your prospect, make it as easy as possible to have this information to be entered into your database system. If you employ a staff, make certain everyone is up to speed on your latest systems. Training is a must.
Move Your Marketing ForwardThe idea is to gather as much information as you can about which marketing mechanisms generate the best (and worst) response, who is responding and why they chose to respond.
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