Effective marketing is a different way to look at marketing. Because I believe marketing is a word that is thrown around too casually these days. Marketing consultants, experts and gurus seem to spring up from everywhere claiming to be the best.
The problem is they can't measure their results. It's easy to claim you're the best when there is no way of knowing how effective your marketing is. Marketing awards do not equal sales...
What is effective marketing?
Effective marketing simply doesn't lose money. You invest a certain amount and get back more in sales or new clients. There really is no trick to it.
You just have to know where your marketing dollars are going and what they're bringing back. This may seem like a simple concept but believe it or not it's one that escapes most marketers. If you asked an average marketer what their return on investment was they wouldn't have a clue.
They may try to bluff their way out with wishy washy figures to do with brand awareness but that's only because they don't have a real answer. They may even claim that marketing cannot be measured. This would be an interesting concept for marketers who have been measuring results for over 100 years.
Why is effective marketing so important?
Without measurement we don't know what direction we're heading... which makes it kind of hard to reach our targets. It's like blind-folding a 100 metre sprinter and spinning them in circles before the race. They can run as fast as they want but chances are they'll never reach the finish line.
If you can't measure your marketing or make money with it then your business is unlikely to grow consistently. Its growth will be based on luck rather than a proven system. And if you guide your business by luck it's equally possible to receive bad luck.
How to create effective marketing
There is one simple way to create effective marketing: Measure your results. When you measure your results the whole game changes and you will quickly learn to make your marketing more productive. It's a lot harder to pretend you have good marketing when you watch money being flushed down the toilet every day.
This means every piece of marketing you create has a tracking mechanism. It can range from asking "So how did you hear about us?" to coupon codes associated with each marketing campaign. The sophistication will evolve as your marketing does and you fully realise how important measurement is.
The important thing is you're measuring. That's how you achieve business success. You wouldn't stop checking your bank balance in the hope that there will always be money in it... so why treat your marketing that way?
What you do next
Decide how you're going to measure your marketing. Implement the system and look at the results. Then use the results to improve your marketing until it is at break-even or better.
Trust me, once you see the results from effective marketing you'll never go back to the dark ages again...
