06Feb 2016 by Robyn Hatfield

Want to Compare Different Marketing Strategies? Use Client Acquisition Cost!

Uncategorized
I hear people all the time tell me they don't know how effective their marketing is.  And they use all types of tactics and strategies to generate clients. But they don't track closely and they don't analyze and compare once they have the data. One of the best ways to compare different marketing tactics / strategies is to use client acquisition cost. What is client acquisition cost?  It's the cost to acquire 1 client.  You get the number by dividing the total dollar amount spent for that particular strategy by the total number of clients acquired. Example:  If you spent $100 and you landed 5 clients, your client acquisition cost would be $20. This may be good or bad (depending on your profit margin and the lifetime value of a client). Below…
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06Feb 2016 by Robyn Hatfield

How Can You Tell If Your Marketing is Working?

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While talking to a friend the other day about his marketing efforts for his small business, I asked 'so how's it going?' He said it was hard to tell and he wasn't sure if he was really getting anything from half of his marketing. I obviously looked puzzled (I don't have a poker face) and asked 'well you track it, right?' He said 'of course' and explained how he knew exactly how much he spent.  And he knew he had 7 new clients. But the problem was that he didn't track his marketing SEPARATELY!  He said he asked people how they heard about him, but half of the time they weren't really sure. [Funny side note:  people really don't know.  When I was trying to track my marketing without tools,…
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06Feb 2016 by Robyn Hatfield

Who Cares About ‘Likes’

social media
Social media has been the buzz for several years now.  Companies have spent thousands and thousands of hours and dollars (and more) to capitalize on this trend. But is it really paying off? It's debatable.  Social media, unlike other forms of marketing or advertising, is the LEAST MEASURED.  And if it is measured, it's rarely on anything that means putting money in the business owner's pocket. So who cares about LIKES and COMMENTS anyway?!? Am I saying social media is a waste?  Yes and no. I use social media regularly.  I have acquired clients on EVERY social media platform that I actively participate.  I also find it extremely useful to bring client relationships to a higher level and deliver better customer service.  So I do see the value in social…
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06Feb 2016 by Robyn Hatfield

Is Your Marketing Message Doing What It’s Supposed To Do?

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In a previous post, I mentioned the importance of identifying an ideal client.  If you don’t understand the importance, think about it like this: I ask YOU to do a presentation for a group of 100 people in a few days.  I tell you that you really need to make it interesting, make it make sense to the crowd, really get them engaged and provoke them to act.  The first question you should ask me are “WHO THE HECK ARE THESE PEOPLE?” And that’s exactly why you need to identify your ideal client.  You can’t create a message that is interesting to someone, that will get them engaged, and that will get them to act if you don’t know who they are. Now that you know (because you have already…
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