Posted by Scott Bywater in advertising, marketing Aug 4th, 2011 | No Comments »

How do you make your marketing accountable?

To answer this question, I want you to stop for a moment and imagine you are in a local club…

Inserting coins into the slot machines hoping for that big pay out…
And then you win $5,000.

Now let me ask you a question:

Would you care whether you put $500 x $1 coins in to win the $5,000. (0.2% conversion)

Or 2,500 x 20c coins (0.04%)

Or 5,000 x 10coins (0.02%)

Or 250 x $2 coins (0.4%)

Or would the only real thing you were concerned about be your return on investment?

Most people get obsessed about conversion rate.

If I send out this direct mail letter, what percentage will respond?

Truth is, it doesn’t matter.

The only thing that matters is what ROI you get…

If you’re selling cans of Coca-Cola at $1 a pop and you get a 10% conversion – you’ll lose money.

But if you’re selling jet fighter planes at $100 million a pop and get a 0.0001% conversion – you’ll make a ton of money.

So focus on ROI – that’s all that matters when it comes to marketing accountability.

How much did I spend?

And how much did I get in return?

I walk you through this in detail in my advertising manual and even include a scientific measurement sheet on page 25 that you can photocopy in order to track the “true success” of every one of your campaigns.

So remember –

To make your marketing accountable…

Forget about percentages…

And focus on ROI…

Because ultimately – that’s the only thing that matters.

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