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Write You - Marketing That Measures Up
Growing your business is a continuous effort and goal. Business owners and managers need to think and plan more strategically to grow their businesses. Here are thirteen (13) simple and strategic ideas that will help increase sale and profits, but wil
Once you have a picture of them, it is easier to develop a strategic and tactical plan to acquire and retain more of them and fewer of the bad ones. Additionally, it becomes more apparent what you need to measure to ensure you are making headway and spending your marketing dollars correctly.
RE
The question of how to manage and measure suppliers can be complex. An effective supplier can positively influence your bottom line whilst a bad supplier can cause manufacturing delays, impact on the customer and ultimately effect revenues. Supplier m
For smaller organizations, there are two key areas that I believe you must track:
• Customer acquisition
• Customer retention
Customer growth rate helps you measure acquisition, while customer longevity as well as frequency and recency of purchase are metrics of retention and customer value.
But before you can measure, you have to know a few facts. Who are your best customers? In each organization, the answer will be a little different. How do you define a "best" customer? Are they the ones who buy the most and cost the least to service? Are there other parameters that tell you they are "best?" Do they refer more business to you? Are they brand ambassadors?
How did you acquire them in the first place (special offers, referrals, newspaper ads, DM)? What is your customer growth rate/attrition rate? Which customers did you keep/lose? Why?
Then you need to define what the best ones look like demographically. Are they 35 - 45, married couples with children and a mortgage, or 18 - 24-year-old singles who live in condos? Urban or suburban? Readers or radio listeners?
Once you have a picture of them, it is easier to develop a strategic and tactical plan to acquire and retain more of them and fewer of the bad ones. Additionally, it becomes more apparent what you need to measure to ensure you are making headway and spending your marketing dollars correctly.
RES
In today’s economy, companies of all sizes are facing a number of challenges that require urgent action. Health care costs are rising, pension obligations are growing and top talent is becoming increasingly difficult to recruit in the rebounding job ma
• Customer acquisition
• Customer retention
Customer growth rate helps you measure acquisition, while customer longevity as well as frequency and recency of purchase are metrics of retention and customer value.
But before you can measure, you have to know a few facts. Who are your best customers? In each organization, the answer will be a little different. How do you define a "best" customer? Are they the ones who buy the most and cost the least to service? Are there other parameters that tell you they are "best?" Do they refer more business to you? Are they brand ambassadors?
How did you acquire them in the first place (special offers, referrals, newspaper ads, DM)? What is your customer growth rate/attrition rate? Which customers did you keep/lose? Why?
Then you need to define what the best ones look like demographically. Are they 35 - 45, married couples with children and a mortgage, or 18 - 24-year-old singles who live in condos? Urban or suburban? Readers or radio listeners?
Once you have a picture of them, it is easier to develop a strategic and tactical plan to acquire and retain more of them and fewer of the bad ones. Additionally, it becomes more apparent what you need to measure to ensure you are making headway and spending your marketing dollars correctly.
RE
As a business owner, you’re probably inundated with advertising offers and salespeople who want your money to advertise on billboards , radio and television, in newspapers and magazines. These salespeople promise massive exposure and hint at lucrative r
How did you acquire them in the first place (special offers, referrals, newspaper ads, DM)? What is your customer growth rate/attrition rate? Which customers did you keep/lose? Why?
Then you need to define what the best ones look like demographically. Are they 35 - 45, married couples with children and a mortgage, or 18 - 24-year-old singles who live in condos? Urban or suburban? Readers or radio listeners?
Once you have a picture of them, it is easier to develop a strategic and tactical plan to acquire and retain more of them and fewer of the bad ones. Additionally, it becomes more apparent what you need to measure to ensure you are making headway and spending your marketing dollars correctly.
RE
In today's unpredictable economy, the idea of job security with any company would seem to be a thing of the past. Large company layoffs, golden handshakes, mergers, leveraged buyouts, company acquisitions and similar business moves have left people
Then you need to define what the best ones look like demographically. Are they 35 - 45, married couples with children and a mortgage, or 18 - 24-year-old singles who live in condos? Urban or suburban? Readers or radio listeners?
Once you have a picture of them, it is easier to develop a strategic and tactical plan to acquire and retain more of them and fewer of the bad ones. Additionally, it becomes more apparent what you need to measure to ensure you are making headway and spending your marketing dollars correctly.
RE
Being successful in business in usually based on the general
idea that desire for making profits and self-interest are
good and moral, however there still should be right ways and
wrong ways to go about making a profit. Morals still should
come
Once you have a picture of them, it is easier to develop a strategic and tactical plan to acquire and retain more of them and fewer of the bad ones. Additionally, it becomes more apparent what you need to measure to ensure you are making headway and spending your marketing dollars correctly.
RESOURCES
• Marketing Metrics White Paper
• Marketing NPV, a website devoted to marketing measurement
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