Women In Business

Keep your eye on your marketing ROI

on


So many people dismiss it, even consider it dirty. The concept that asking people to work with you in some way cheapens your brand. I have never understood why people stand on a soap box stating they never have to market, because people come to work with them, they have referrals, they have word of mouth.

That is exactly why marketing is integral. To scale a business people cannot be there only for you; it’s the glass ceiling for a small business owner. A lesson they often learn too late, that soap box is a weakness rather than a strength, and an arrogance, I find, usually hides a fear of the unknown.

For many marketing, especially with the rise of social media marketing, has become a swirling mess of stats they don’t understand.Algorithms, hype, uncertainty and a marketplace full of “gurus” who talk big, but struggle to walk the talk.

I would argue having lead generation on tap is the foundation to a solid business. With lead generation on demand you can focus on growing a business rather than surviving business. You can build a team, track key numbers, track cash flow, manage sales teams knowing they have consistent work, you can focus on client experience, leadership, client retention and growth.

There are only 3 ways to grow a business, lead generation (marketing), increasing the client value and increasing the frequency of transactions.

Marketing is the game, marketing is fun, the rush you get when your ad is converting, your landing page is crushing it and your sales team are on fire. Morale is never higher than when we are all winning the game of marketing. The other growth funnels are less exciting and often less visible.

The trick is to know your numbers. Like anything in business, you need to have a clear outcome, a goal, one that you can reverse engineer. For marketing, that goal needs to reflect a tangible number of “leads” you need to generate.

That is the purpose of your campaign. And now you can immediately see if you had a successful or unsuccessful campaign.

Now money, this is where almost everyone fails at Facebook Marketing in particular, they try to generate the most leads for the smallest amount of money. Why? Because they do not track their numbers.Who cares if you generate 1000 leads if you can only physically service 20 clients?

Consider these key metrics.

  • How many sales do you want to make?
  • What is your average sales conversion?
    • That will give you how many leads do you need?
  • How much are you willing to spend to generate that lead?
    • That will give you your expected marketing spend.

Now that is extremely simplified, but you need to have a starting point, and it needs to be realistic!

If you are trying to sell clients into an $20,000 carport and you are saying you want to spend $10 to generate a lead, well I hope you have a mirror on your desk because take a good hard look at yourself and say out loud.

“Am I being realistic or cheap?”

Now the only question is – do you have that dollar value on hand to spend on Facebook?

No? Get a loan, get a credit card, find $100, $200, $500 and just get started.

Action is the foundational key to all success. Reasons or results. Money doesn’t grow on trees (or so my parents said) so be prepared to back yourself, you learn nothing from success, only from failure so how else are you going to learn?

Without marketing your business, or your sanity, has a use by date, so it’s time to step off the soap box and into the ring. You may as well step in swinging to win!

Not sure how to make it work for you?

Hire a business coach and learn from the best, or hire a marketing agency, let them generate the leads and focus on what you are great at. You may not be a great technician, you may be the entrepreneur who struggles to stay focused on the minute. It’s not a bad thing. Recognise your strengths, harness them and delegate everything else! It’s not a weakness to admit you are not the best at everything.  In business you are asking people to invest in themselves, in you, in their health. When was the last time you invested in your own business?

So remember a great marketing campaign has these 3 components:

  1. A tangible target
  2. A realistic budget
  3. Regular tracking to ensure you are on track to hit targets within a deadline

Don’t be afraid to spend money, but make sure you know your numbers and that money is not flying into the abyss of poorly executed marketing campaigns on Facebook.

And remember to have these vital ingredients:

  • Have a clear offer that is both irresistible and relevant to a single target audience
  • Served to a well sized audience (more is not better on Facebook)
  • Great copywriting that speaks specifically to your target audience
  • A very, very clear Call to Action!
  • A dedicated landing / sales page that you can track conversions easily and there are no distractions –avoid using your website for this exact reason!

If you mix all these ingredients together, then you’re on your way to being on track with your digital marketing campaigns!

About Liv Jones

Liv Jones is an Australian entrepreneur. She is the Co-Founder and Director of Attain Digital(www.attaindigital.agency) – a digital marketing agency and Think Tank – a small business coaching company servicing SME clients within the services industries. Instagram: @the_liv_jones

Recommended for you

What Do You Think?

Your email address will not be published. Required fields are marked *