The New Year is upon us, and with it comes a sense of a “fresh start” — especially if the past 365 days haven’t been particularly good. However, before we can measure progress, we must have an idea of how far we’ve come. Therefore, it’s essential to record the results of past marketing initiatives and reference them from one year to the next.
Understand that every advertising campaign or customer/prospect outreach effort is very much like an experiment. Not only are you interested in results, you’ve got to control for variables.
Necessarily, there will be a “best guess” component to your experimentation based on experience, industry knowledge and instinct. Additionally, some variables will be beyond your control while others are completely invisible to you. But every campaign requires standard, basic decisions. To avoid repeating the same mistakes and to steadily improve results, pay attention to:
- Audience demographics – Age, gender, ethnicity, income, location … you should have a profile of your target audience before your campaign begins. Say, for instance, 75% of your target audience is male but 50% of the leads generated are female. Such over-performance with women might suggest untapped demand. Yet you’ll never know unless you record who received your messages in the first place.
- Campaign timing – From “back-to-school” sales for children’s clothing stores, to tax season for CPAs, every industry has a time of year that’s expected to bring in more business. But is it better to advertise a month before the event or just a few days in advance? And the days of the week that you advertise could make a difference in response as well. Will your Monday email blast get lost in the clutter from the weekend? Make identifiable changes from one campaign to the next, and compare results.
- Types of communications (email, direct mail, radio, social media … etc.?) – The tricky part about comparative analysis of media is that results can be radically different from one to another, yet actual effectiveness could be almost equal. Take for example, the email blast that costs next to nothing per contact, but also brings in very few qualified leads, versus a creative (and expensive) direct mail campaign that nets a much higher percentage of actual sales. It’s only when you try different approaches over time that you can determine which has the greater positive impact on your bottom line.
- Frequency of contact – One thing we hear commonly hear from clients is that they tried a certain type of advertising and got no response. This often means they mailed a postcard or sent out an email blast—one time and out of the blue—and no one noticed. But people get bombarded by thousands of messages every day. To make an impression, you usually must repeat yourself. However, there is a sweet spot—before diminishing returns on your advertising investment—that you won’t find until there’s a documented history to examine.
- Tone of the communication – Did your advertising seek to get a chuckle, tug at someone’s heart strings or imply that life as we know it rested on the prospect’s buying decision? Most business owners think they know their customers—and they usually do—but it’s risky to make blanket assumptions about the mindset of others. Certainly, you want to stay within the boundaries of your brand image, but occasionally changing the tenor of your messages may provide valuable marketing insight.
As you go from one campaign to the next, isolate a specific aspect of the communication to change. You don’t want to change too much. Otherwise, if results are greatly impacted, you won’t know which factor was at work. Plus, if you’ve been getting reasonable ROI from your marketing budget, you don’t want to risk a disastrous result by suddenly changing too much. Your expectation should be incremental improvement. Sure, you might discover an advertising formula that exceeds your wildest hopes, but in the meantime, plan on adjusting and analyzing your marketing plans as long as you’re in business.
Ready to kick off your marketing new year? We are!