Here are a few easy ways to measure the responses to your marketing efforts:
1. Drive them to a specific URL so that you know how many people went to the website.
2. Ask them when you talk to them on the phone where they heard of you.
3. Have them call a specific phone number with a request.
4. Use different response vehicles with different marketing vehicles. For example, the postcards offer a reduced price IT audit and the newspaper ad offers a free seminar.
Looking at Real Numbers
Let's look at some real numbers to get an idea of how this can work. Let's say that you mail 1,000 postcards to 1,000 law offices in the area with some kind of offer like attending a seminar, getting a free report, getting a free needs analysis.
If you find out that you received a 1.7 percent response rate on inquiries, and out of those 17 inquiries, one materialized into a constant client and another was a one-shot deal. Thus, for those 1,000 postcards, we got 17 inquiries and we got two business opportunities that equated to $19,500 in the first year.
That’s a fantastic return even with all the costs that you had to put out the ad, which probably equaled $500-$700. You found an account that paid for it and then another account that paid for the cost over and over again, possibly for years to come.
Submitted by Joshua Feinberg