He once said “A man who stops advertising to save money is like a man who stops a clock to save time.”
So we know that he was a supporter of the marketing and advertising process.
However, he is also credited with this even more famous quote “I know half of my advertising budget is wasted – I just don’t know which half.”
Nearly one hundred years on, if Henry Ford was alive today, he would have no doubt over which campaigns and channels worked and which didn’t. He would have been able to make his advertising budget work even harder.
Put simply, if you aren’t making your campaigns accountable and measurable then you don’t know if your marketing budget could have been spent more effectively producing even better results?
Here are 7 questions for you to consider if you want to improve your campaign performances:
- Do you analyse previous campaign results and adjust your campaign focus accordingly?
- Do you set goals and know your outcome before you start the campaign?
- Do you know your target market and the effectiveness of your chosen marketing channel?
- Do you know your enquiry conversion rate and therefore how many enquiries your campaign needs to produce to be profitable?
- Do you keep your colleagues advised about your marketing strategy?
- Do those colleagues have clear instructions that if they are dealing with an enquiry then they must ask where the caller saw their number – email shot, leaflet, poster, social media etc?
- Do you record all such information in a central source for ease of review?
Accountable Marketing is only half the battle though. Once your marketing has done its job, it is up to the sales team to convert the leads that have been generated and there are some scary stories out there about following up leads!
If you need assistance or advice with systems and procedures to improve the tracking on every marketing and advertising campaign please contact me and I will help out.