09 Mar 2008 09:47:56 | Susan Dunn, M. A.
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MROI means Maximizing Return on Investment. How do we do this in
marketing? Track, measure, analyze, strategize. The more data
you get, and the more you massage it, the more you learn, and
the smarter your marketing is going to be.
Here are some questions to ask yourself when you plan your
marketing strategy for the new year. (Substitute customer for
client.)
1. What are the historical patterns of behavior of your clients?
Do they respond more in the fall? At New Year's? Gear up for
these times in the coming year.
2. What clients have brought in the most revenue? These clients
are "worth" more. Where did they come from? Why did they choose
you?
3. What else might these high revenue-driving clients like to
buy from you? Ebooks? Tapes?
4. What contacts brought in the most business? A particular
ezine? Something on your website?
5. What products, services, or programs have brought in the most
revenue? Replicate these!
6. Where have your referrals come from? Remember the 80/20 rule
-- 80% of your referred clients probably came from 20% of your
referrers. Reward the 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 the '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 the 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 the expense of your creativity.
Both are necessary.
About Author :
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.