Assumption Based Marketing Vs. Fact Based Marketing

One of the most common mistakes in marketing is making decisions based on assumptions rather than fact. You think of an idea for a marketing piece and believe that it is a great idea.

You start using the idea with no tracking mechanism that would allow you to measure the results of that piece. Then if business happens to come in you assume that it must be working and continue to spend time and money on a method that may or may not actually be working.

Frankly, I don't want to spend a dime (or a minute of my time) on marketing that I can't measure.

There are two reasons for this. The most obvious reason is - I want to know if I am wasting my efforts on something that doesn't work at all.

The second reason is - if the marketing piece is working I want to know how well. I want to be able to compare it to my other marketing efforts and determine where my resources are best spent. I also want to be able to test variations of the piece and see if I can improve the response rate. An improvement in response rate adds directly to the bottom line because it doesn't cost any extra.

In other words, if I have a choice between spending $300 on an ad and getting 10 responses or spending the same $300 and getting 20 responses I'd rather have the 20 every time. That's a no-brainer, right?

Yet so often I see marketers using unproven ads and neglecting to test and see if they can improve response rates.

That's one reason I like using free recorded message lines as a response mechanism so much. When the person calls to hear the recorded message they enter an ID number from the ad they read. Each ad or marketing piece can be assigned a unique ID number so that I can know exactly how many responses came as a direct result of that particular piece.

Knowing your numbers and tracking every single ad can save you time and money, and making decisions based on fact is much more profitable and enjoyable than making them based on assumptions.

Shawn Meldrum has spent the last two decades marketing everything from almonds to landscape lighting. He currently specializes in marketing for mortgage brokers, loan officers and real estate agents. For free mortgage marketing articles and much more visit: http://www.mortgagemarketingtips.com/

---

PowerPositioning: WillYouAcceptThisRose.com

Positioning is a powerful concept in marketing. To illustrate, have... Read More

Produce More Sales from your Email Promotions Five Ways - Part 1

Do sales come from your ezine regularly? How many well-written... Read More

10 Reasons Why Businesses Fail at Marketing.

1) They don't fully understand it.Perception: Marketing is advertising. Reality:... Read More

Direct Mail Response Devices and How to Craft Them

Successful direct mail packages contain three things: an attractive offer,... Read More

Have You Sold Your Internal Customers?

You can make the sale. You know your core message.... Read More

Its Not All about the Cleavage! Or is It?

Times are a changin'! More women today work outside the... Read More

Breaking The Voice Mail Barrier

Even if you never place a cold call, you still... Read More

Give me a Referral any Day - the Power of Networking

I nearly panicked recently! Well, maybe a slight exaggeration but... Read More

Whats In a Business Card?

Over the years as I have attended trade shows, networking... Read More

3 Strategies to Market Your Business Even When There?s No Money

Many small and home based businesses know they need to... Read More

11 Rock Solid Techniques For Generating Product Ideas Anytime Anywhere!

Whatever business you are in, either online or offline, you've... Read More

7 Marketing Lessons I Learned From the Muscleheads at Golds Gym

Can I share a secret with you?I love working out.... Read More

How to Profit from Your Expertise (Part 1 of 2)

Are you looking for a natural way to market your... Read More

Putting Your Website to Work

Websites have replaced the brochure as the "must have" marketing... Read More

Is A Marketing Plan The Same Thing As A Communications Plan?

How does a marketing plan relate to an organization's communications... Read More

Marketing On The Cheap: Become a Joiner

Recently I wrote an article on the benefits of joining... Read More

Direct Mail Strategy - Brand Identity Guru

1. Know your purpose: What do you want your direct... Read More

Marketing Strategy and Template for Independent Professionals

Having a marketing strategy and marketing approach is very important.... Read More

Advertising Campaigns That Get Results

"Advertising doesn't work." I hear it from my clients all... Read More

Why Cutting Prices Is Like Cutting Your Own Throat

Why cutting your prices is like cutting your own... Read More

Make More Sells With Colors

How Colors Effect Our Emotions?One of the most interesting things... Read More

Guide to a Profitable Marketing Mix

You may have heard the term Marketing Mix used in... Read More

Hispanic Market Reality and Purchasing Power

How many Hispanic people live in the US currently. Well... Read More

Turning The Casual Scanner Into A Buyer

The world is full... Read More

Starting Small Business Promotional Campaigns

So you're starting a small business. You figured out what... Read More

Hello, My Name Is . . . What Your Name Tag Says About You

When you attend networking functions, what kind of name tag... Read More

Get More Clients From Networking - Follow The Rules Of Dating!

If you're a business owner, you probably spend quite a... Read More

The Money Making Secret of The Toll Booth Position

I'm a marketing consultant and at one of my client-companies,... Read More

Slogans: Creating and Using Them In Life, Career and Business

Information is coming at us from all directions nowadays. This... Read More

Non-Aggressive Marketing Ideas for Enterpreneurs

Do you cringe at the thought of trying to promote... Read More

Business Cards That do the Business

A business card makes a statement about who you are... Read More

Networking the Media

The media is a business's absolute best friend. It is... Read More

Networking Magic

YES-- it is true that Networking is an art that... Read More