How many of you enjoy playing a game of darts? Probably a lot of you. How many at least know the general concept of darts? Probably all of you. So, if someone asked you to play a game of darts in the dark, any sane person would absolutely say no.
It sounds ridiculous but you would be astonished at the amount of local business owners who play darts in the dark with their business. Nearly 100% of local businesses conduct marketing or advertising efforts with the goal of getting more customers to their doorstep — email marketing, print ads, social media ads, you name it. However, so very few business owners actually know which of these marketing/advertising channels are actually performing for them.
Why It’s Important to Know How to Track of Your Marketing Efforts
If you’re putting money into marketing/advertising for your small business, but not putting in the time to track the results, you might as well be playing darts in the dark. You’re throwing a bunch of things out there, but you’re not able to determine what’s actually hitting and working to bring in more business and what’s not.
Your time is precious and so is your money. You want to know what channels are working and which aren’t so you can stop wasting your time and more importantly your money on things that just aren’t really yielding results for you.
You need to know how much of your marketing budget is being wasted…
With the average small business spending around $400 per month on marketing, it’s more than worth it to monitor where your money is being used efficiently and where it isn’t.
Where to get started...
Sometimes it could be difficult to figure out where to even start. It’s important to track each and every one of your marketing activities, whether it’s paid or free.
Here are a few of the major marketing/advertising channels you want to pay closer attention to for performance.
1. Email Marketing
2. Online Directories
3. Social Media
4. Digital Advertisements
5. Print Advertisements
Bringing in new customers is a vital part to the success and growth of your business, but it can be an expense one. In fact, in many instances it can cost close to 6-7x more to attract a new customer versus trying to get old ones to come back in. So, if you're taking that slightly more expensive path to attract new customers, be sure you know which paths you’re taking are working and which are not.
Knowing how to track marketing efforts is essential to the success of your business. See how Frederick can help you start easily tracking your marketing efforts in no time.