Return On Investment (Tracking Sales)
One thing that many clients don’t do correctly is track where a sale (or potential sale) originated. This is critical in knowing how effective and where to spend your advertising dollars. Everyone that contacts your business should be asked “How did you hear of us?“ Try to get them to be as specific as possible.
For example if you advertise on Google and Bing, ask what search engine they search for you on. By tracking how your customers found out about you, you can modify your advertising budget to be much more effective. Let’s say that you find out most of your serious customers found out about you from an email campaign you send out and not through search engine pay per click. Then maybe you should reallocate your budget toward email campaigns which are much more Return On Investment (Tracking Sales) effective and less on pay per click.
Always ask your prospective customers how they heard of you!
This is one of the best things you can do to determine where your advertising budget is most effective. it will ultimately get you more results and save you money in the long run.
TIP: if you mail your customers an invoice, include a stamped self-addressed postcard survey to rate your service, find out how they heard about you, and ask for referral for new business. If your employees give your customers receipts to pay, like in a restaurant, make sure that survey card goes out with every single one. Also add a line to ask for their email address so you can add them to your email database. A lot of times sponsoring a contest will generate more email address responses. Once a client offered Free Pizza drawing for a year (12 pizzas over 12 months) in a drawing and collected thousands of email addresses. A good email database is like money in the bank.
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