Why is this important? Lack of marketing today is a guarantee of business failure. There is no need to even comment on this. An entrepreneur who has paid for advertising for the sake of advertising is definitely “draining” the budget. Before signing the bills, a developed strategy, a thorough analysis of promotion channels and setting specific goals are necessary.
What to do? If you want to grow your profits and increase your sales volumes on a regular basis, never make these marketing mistakes. And be smarter than other business owners (and even us!) and avoid these mistakes before you even start growing your business.
Mistake #1 – No Marketing Strategy
This is a complex error that can include elements such as an illogical marketing plan, poor organization of the marketing department, and a lack of strategy in general.
Money is invested in facebook database marketing unsystematically, or, on the contrary, the budget is “merged” on one selected promotion channel without preliminary analysis and without any logic. After the entrepreneur does not see results, “all this marketing” is recognized as ineffective, and advertising stops altogether.
For an advertising strategy to bring results, it must be planned down to the last detail and last for at least 6 months.
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Mistake #2 – Lack of specific numbers in marketing
If expected marketing performance is not recorded, it is impossible to know whether the advertising costs were worth it or not.
Therefore, we write everything down and compare the results based on the campaigns conducted. These can be general indicators, such as the marketing budget or sales department conversion, or indicators for each individual advertising channel.
Lack of specific figures in marketing
What indicators can be highlighted:
number of sales;
customer acquisition cost;
number and cost of clicks;
website conversion;
profit volume;
number of community subscribers;
number of blog posts and their frequency;
number of mailings and their opening rate, etc.
Increase Your Profits by 10X: 5 Key Metrics You Must Track
Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
Read more posts on my personal blog:
After working with over 300 online projects , I can guarantee: monitor these metrics weekly and your company will not only survive, but also increase its profits by 10 times!
In the context of sanctions and crisis, knowing the ROI of your advertising decides whether your business will be successful. Tracking these 5 critical indicators is the key to your prosperity.
What you get for free:
5 Key Metrics to Increase Profits by 220%
The Secret ROI Formula: Instant Advertising Efficiency Calculator
Anti-crisis Solutions Matrix: Find the Perfect Strategy for Your Business in 15 Minutes
We have prepared all the documents and templates with