As a retail business owner, knowing what methods of marketing work and don’t work for you is vitally important. The ability to know which marketing is most effective and where to put your marketing can make the difference between succeeding and failing.
How how do you know which marketing works and is most effective? Great question, glad you asked! Every time a new customer comes into your store or business, you want to be able to capture how they heard about you. This is similar to the “How you heard about us” fields on website sign up forms where they want to know how you found their site. Then you need a way to organize and report this.
How do you capture, organize, and report this data? Simple, when inputing a new client or lead into Client Book CRM just select the appropriate option in the “How they heard about us” field. Then management can see a marketing report of which types of marketing are most effective and heat maps of where marketing is most effective. This can help you know what’s working and where it works best, allowing you to allocate your marketing funds where it will be most effective and in return increases sales and can potentially lower marketing costs.
To further illustrate this, I would like to tell you about my good friend John.
John owns a jewelry store, he’s been in the business for many years and has an established business. John spends $10,000 a month on marketing. He spends $2,500 on radio ads, $2,000 on billboards, $500 on email marketing, $3,000 on TV ads, and $2,000 on various forms of internet marketing each month. He started using Client Book CRM and had his employees capture how their customers heard about them. Then at the beginning of the next month he took a look at the marketing reports.
John found that that radio ads brought him 100 new customers at $25 per new customer, billboards brought him 150 new customers at $13.33 per new customer, email marketing brought him 25 new customers at $20 per new customer, TV ads brought him 80 new customers at $37.50 per new customer, and internet marketing brought him 115 new customers at $18.18 per new customer. Now he knows that billboards are his most cost effective form of marketing with internet marketing in second place and so on. He would be able to take a look at the heat maps and see which billboards are most effective and where the internet marketing is most effective. This would also enable him to better allocate his marketing resources to where he would get the most bang for his buck. So the next month, John puts more of his marketing funds into internet and billboard marketing and enjoys a better return on his investment.
That’s the beauty of and the power in CRM and marketing reports, it helps you get the most from your marketing and does much of the hard work for you. This same report can be used by almost any business that spends money to market a product or service. If you’re not already capturing how your customers have heard about you, now is the time to start! Don’t waste another dollar on less effective marketing!