How do you know if your marketing is successful? You look at the bottom line. If there’s a profit, the cost of promotion was worth it. This has been the trend in business for years. But with the advent of social media, businesses have shifted their focus from promotion of the brand to the oh-so-elusive “connecting with the consumer” concept. This has left them thinking that marketing is complicated and hard to quantify. Nothing could be further from the truth.
Consider these 3 bare-bones steps in marketing;
1 – Find a Target Audience
2 – Connect with that audience at an influence-able level
3 – Drive that audience to give you their money
It is truly that simple. The purpose behind everything a company does is to improve its bottom line: to increase profit, or, in the case of non-profit organizations, expand revenue in order to help more people. The American Red Cross is one of the most profitable and efficient organizations on the planet–any executive there they will tell you their goal is to drive revenue in order to grow their business, in their case, “help more people.” There is no shame in that nor are they misleading the public.
Remember, the public in general doesn’t actually need what you’re selling; but they might want it. It’s your job to convince them that they do.
That’s marketing, plain and simple. It moves the consumer into the sales funnel, increasing with each of the 3 steps their positive attitude towards a purchase. Once the prospect reaches the sales team, he should be right at the edge of the purchasing cliff, requiring just a gentle nudge from the sales team to close the deal.
The phrase “50% of marketing works– you just can’t tell which 50%” stems from a disconnect between marketing efforts and the bottom line. So hold your marketing campaigns accountable to actual final sales – it is the only way to understand what is working and what isn’t.
Results matter. So does your marketing.