Who this is for
If you want a simple, scalable process that delivers consistent marketing return this process is for you.
The process :: a brief history
The process ‘Gain Profit’ came about several years ago after a conversation with a business owner who wanted a simple, effective marketing plan that he could repeat again and again. I couldn’t deliver.
The conversation we had went something like this:
“I need a marketing plan that my people can use over and over”
“OK, but I recommend an ongoing process that doesn’t just repeat the same tactics again and again”
“But, that’s the exact opposite of what I want”
“For your marketing to be effective you need to test the tactics you use”
“So you can’t give me what I want?”
I handled the conversion badly. We were both frustrated. I needed a better way to present the benefits of testing and measuring marketing tactics. I went away and thought about what marketing really means for business owners, marketing managers and all stakeholders.
Gain Profit – Why we measure marketing effectiveness.
As business owners the ‘P’ word is ever present in our minds, making a profit is an essential part of any business. Without it we will fail.
Profit – it sounds really very straightforward, if you want more you need to spend less and sell more, simple right? Well, not always.
You see, sometimes we will make a significant investment to try and achieve that wondrous balance of higher sales and lower costs but that same investment can tip the balance in the opposite direction.
Risk vs reward
If you invest heavily in your marketing you are taking a risk. You might choose the wrong publication and get zero response from your advert that has cost you £5,000. Or, you may choose the right publication, present the perfect advert and the sales come flooding in.
But how can you limit your risk? How can you bring it down to a level that you’re comfortable with whilst still keeping that all important profit in your sights?
The answer is simple
Test and measure.
Gain Profit – The cornerstone of simply smarter marketing
This is a brief introduction to our process, it’s simple, straightforward and scalable.
The planning is essential. Know what you want to achieve.
Evaluate your options – do as much research as your schedule will allow, or outsource it if you haven’t got time – money spent now will save you more in the long run.
Set your budget. Decide how much of a time and financial commitment you’re prepared to make.
Set out a to-do list with clear responsibilities, deadlines and reasons – this helps you remember why every step is important, after all if it’s not important why is it on your Action Plan?
How will you quantify results and success? This last part is essential – put the tools and systems in place early to record results, without them your working blind.
This is money and time.
Be prepared to clear at least a little of your schedule and stick to it. As for the money, we’re not recommending ‘putting it all on red’ – you can start small, test the water and see what works.
This is the first step in understanding what is working, and what is not.
You need to record data – it can be very simple or highly complex, but you have to record the results – it’s essential for success.
This is the hard truth. The numbers will not lie.
Look at what you wanted to achieve. Look at the results. Easy question – did it work?
It’s all good – we’re learning what works for your business and your customers.
Change is essential.
If it’s not working as well as it could change it, or if it’s not working at all ditch it.
If you’re getting good results, can you make them better? What small changes could you test?
Do you need to ditch a plan? Do you feel ready to hit the panic button? Not so fast…you have not wasted your money! You have spent a small amount (remember, limited investment to start with), to learn a big lesson. This is good. This is valuable.
Take your data analysis to a granular level, for example, sending emails at different times of the day – better or worse results? Publish blogs on a Wednesday instead of a Friday, more or less engagement?
Only spend more time and money when you’re confident you’re going in the right direction.
And this is what it’s all about. The rewards may not be instant sales, they could be lessons to help you save money in the future but whatever form they take there will be rewards.
If the sales are flooding in – celebrate!
If you’ve changed direction as you can see the results were not as good as you expected – celebrate! You’ve saved a huge amount of future investment!
Ready for more?
And finally, if you want more profit repeat the word!
Testing and measuring is an ongoing process. Every tactic can be improved. Things change – what works today may not be as effective tomorrow. Keeping your stats close at hand will give you the forewarning you need to take swift and decisive action to ensure you get the most from your marketing investment.