| |
| |
|
Marketing Information |
|
|
|
There's More to Marketing ROI (return on investment) Than Meets the Eye
All too often people look at marketing ROI in terms of response rate: in other words, "I sent out 10,000 pieces of direct mail and only got 39 responses which is terrible." This is wrong think. When it comes to marketing ROI, you have to realize that the term means Return On Investment and the return is measured in dollars (or your local currency). Let's say you spend $2,000 to get out a bulk mailing of 5,000 pieces and you get 10 calls as a result. Doesn't look like much. But of these 10 calls you close 6 and get immediate sales of $12,000. That's marketing ROI! And that's not even taking into account the future sales to those 6 new customers. It could add up to hundreds of thousands of dollars. The same simple mathematics apply to any other marketing efforts: radio ads, press releases or articles in magazines, print ads, yellow pages, web site, etc. Obviously you need to keep track of response from each marketing campaign you do so that you can weed out unsuccessful campaigns and strengthen successful ones. Case in point: Jeff Lee, CFO of a very successful consulting company, Measurable Solutions, has adopted a successful small business marketing strategy based on direct mail marketing. Key elements are mailing out a newspaper and full color postcards. The design is done in house and the printing and mailing is done by a specialized postcard printing company. In his own words... "We get our best response from mailing out a newspaper and back it up with postcards. Depends on the postcards. Some postcards have pulled better than others. The professionalism of the postcards is something that is effective: it gets attention, it keeps the image that we want to keep, it creates the reach, it creates the response and keeps our leads in a very high range. We probably average around 7,500 post cards per week. Out of 7,500 post cards we'll get in an average of 15-20 leads. Of the 15-20 leads at least a third of them come to our introductory seminar. So say 5 or 7 people show up and they pay $1,700 a piece. Off of that we close a further $30-40,000 for services. The money we have put into the postcards is like a drop in a bucket compared to what we get back. We know that the more promotion we send out, the more return we're going to get. It always works." That is excellent marketing ROI. Measurable Solutions spend about $2,275 for 7,500 full color post cards. That includes printing, postage, mailing (including the mailing list). From that they get between $8,500 and $11,900 in immediate response for an introductory seminar and an additional $30-40,000 follow-up sales. Spend $2,275, earn $40-50,000. You don't need to have majored in advanced math and rocket science to work that one out: that is what is meant by marketing ROI! Results of direct mail marketing vary from business to business but the principle holds and always works: if you send out enough promotion, you will make sales and maximize your marketing ROI. Don't worry about response rate if your marketing ROI is high. Joy Gendusa founded PostcardMania in 1998; her only assets a computer and a phone. In 2004 the company did close to $9 million in sales and employs over 60 persons. She attributes her explosive growth to her ability to choose incredible staff and her innate marketing savvy. Now she's sharing her marketing secrets with others. For more free marketing advice, visit her website at http://www.postcardmania.com
MORE RESOURCES: Warning: set_time_limit() [function.set-time-limit]: Cannot set time limit in safe mode in /srv/www/vhosts/testmagazine.com/httpdocs/inc/rss.inc on line 8
Marketing - Google News |
|
|
|
RELATED ARTICLES
Online Advertising Versus Traditional Media Advertising Before I compare today's online advertising with traditional media advertising I will make an analogy.If you've been on the Internet for as long as I have, you probably noticed that things have changed dramatically. Your Marketing - From The Couch To The Cash Register When you put time or money into any marketing plan, your only objective is to MAKE A SALE. Are you sure your marketing is going to get your customer from their couch to your cash register?When somebody hears your message or sees your logo from some medium you have created, what does the path from that first 'touch' to your cash register look like?We call this path the yellow brick road. Do You Make These 5 Common Marketing Mistakes? The famous P.T Barnum once said, "Without promotion, something terrible happens, NOTHING!" And marketing (or promotion) is all about combating that dreaded 'nothingness'. Getting the Maximum Marketing Mileage Out of Your Nametag As a small business owner, you must always explore creative ways to promote your products or services. One of the most effective yet underappreciated tools you can use to keep your company "on stage" is your nametag. Brainstorming Techniques as New Product Development Strategies When developing new products and strategies, coming up with unique ideas is often a struggle. It is one of the reasons why, in any industry, there is so much repetition. Mobile Marketing a New Age Strategy More and more companies seem to be looking for new and innovative ways to market their products. Overlooking most of the traditional marketing techniques, more companies are pioneering the relatively new mobile marketing campaign. Top 10 Marketing Pitfalls Ten Marketing PitfallsBy Stuart ReidIf you want to make it BIG in Internet Marketing you need avoid some common mistakes. Here's a list of the top ten Pitfalls that catch out beginner Marketers (and many established ones too!). Ten Effective Ways to Capture Market 1.Evaluation of Existing Products / Therapies2. Mail Orders Most Common Mistakes THE GREAT MAIL ORDER MYTH There are a number of totally unrealistic beliefs about the mail order business. To belive in any of them can be dangerous to your pocketbook. Real Estate Investing - Writing Killer Postcards to Attract Motivated Sellers! So many of you have been telling us that you're ready to get started investing, but "you can't find any deals! and what are the steps and secrets to finding great deals?" Some of you have even written asking us if there still ARE any deals left? OF COURSE there are! We find them all the time. But you ain't gonna find them looking at for-sale ads in the paper, for-sale signs in the yard, or by concentrating solely on short sales, foreclosures, REOs and agent-listed properties. Becoming The Obvious Choice In A Sea Of Competition Differentiation, niche marketing, and positioning. These and other related business buzzwords have no doubt crossed every business owner and marketing director's ears in recent years. Print Marketing Campaign, Whats Important and Whats Not! Every company searches to lure customers to their product. Unless you have a monopoly or unique product your marketing goal is to fulfill your customers needs with your products. People Pleasing Postcards Why are more businesses turning to full-color postcards as a key form of promotion? The biggest reason is the simplest: You don't have to open a postcard. It won't get lumped in with all the direct mail envelopes that people toss without opening. How to Turn a Marketing Calendar into Marketing Success! Do you have a list of marketing ideas that you'd like to implement, but just never seem to get around to actually doing some of them? Who has the time?Creating a marketing calendar is the only way to make sure you stick to your plans. Take it seriously - don't forward today's marketing to-do into tomorrow's list or you'll fall behind right away. Have You Tried Cause Marketing? To help promote your small business or professional practice, consider tearing a page out of the corporate marketing playbook. For years big companies have partnered with nonprofits to co-promote their brands. Marketing Strategy - Shift the Focus Most of the service providers I've worked for or with don't like marketing or selling. In fact, a lot of them will say they "hate it. The Magic of Using Booklets for Tradeshow Giveaways Candy, squeeze balls, pens, and key chains -- these provide questionable value to anyone visiting or staffing a tradeshow booth. More and more meeting and marketing professionals are considering something a little different - booklets. Promotional Pen - A Pen by any other Name? Have you ever been among a group of people exchanging contact details? Notice the scramble for that good old-fashioned instrument, the pen. See the woman upturn her purse searching for one and the impatient expressions on the faces of the people with her. The Marketing Plan and the Four P's The Marketing Plan section of the business plan demonstrates how a company will penetrate the market with its products and services. The Marketing Plan should include "the four P's" - Product, Promotions, Price, and Place. Lessons From a Six Year Old My 6 year old daughter Emily knows exactly what she wants to be when she grows up. Two weeks ago she knew that she wanted to be a teacher.
|
|
home | site map SEO Request | Wing Chun | Home Business Help | Klick Marketing Resources | Recommendation for Internet Business |
© 2006 GetWebMarketing.com - All Rights reserved. - GetWeb Media Webdesign Muenchen |
