Ten Ways to MROI--Maximize the Return on Your Investment in MarketingWritten by Susan Dunn, M. A.
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6. Where have your referrals come from? Remember 80/20 rule -- 80% of your referred clients probably came from 20% of your referrers. Reward people who refer to you. Find more like them. (For 80/20 rule see www.topten.org/public/AG/AG310) 7. What does your clientele look like demographically? What sex, age, income, education, occupation, hobby? Match your ads and promotions to where these people will be. 8. What's 'formula'? Can you verbalize it? Know precisely what drives traffic and revenue to you. For instance, mailing X number of flyers yields X new clients, costs $X, and takes X hours. 9. Did you factor in your time? If giving one teleclass yields less clients than above tactic, but only takes 1 hour and costs less, it's more cost-effective for you to give teleclasses. 10. And are you still creative? Making your marketing more business-like can't be done at expense of your creativity. Both are necessary.
Susan Dunn is a personal and professional development coach specializing in marketing professional services. You can visit her on the web at: http://www.susandunn.cc.
| | Win-Stay, Lose-Shift: A Marketing StrategyWritten by Susan Dunn, Coach
Continued from page 1 It's so simple, monkeys do it. Experimenters place a monkey in a cage with a blue button and an orange button. The monkey's curious, like humans, and he starts pushing buttons at random. When he pushes blue button, he gets a peanut, and he likes that a lot. When he pushes orange button, he gets a spray of water in his face, and he doesn't like that. So what does monkey do? He may test situation out a couple of times, but it doesn't take him long to shift from orange button to blue button, and to stick with it: Win-Stay, Lose-Shift. It's very important in marketing to monitor cause and effect constantly, and to pay attention to results--to ROIM--returns on investment slash marketing. Know what you do that wins, and stay with it. Know what you do that loses, and shift to something else.
Susan Dunn is a personal and professional development coach focusing on emotional intelligence. Visit her on the web at http://www.susandunn.cc/
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