Monitoring Results (ROI)
Monitoring your Direct Response advertising is CRUCIAL to your business and marketing budget.
If you are running direct response advertisement the very least you will want to know is:
1. How many people responded to your advertisement?
2. How many converted to sales?
You then compare that information with the cost of the advertisement and work out your ROI (Return on Investment) and decide whether the advertisement was worth while or, drop it.
There are too many people and businesses that allocate funds to their advertising budget, (As somewhere along the line their accountant has told them that they can write it off against tax) and, they have only the vaguest idea or, absolutely no idea whether the advertising is working or not. This is NOT a good idea.
If your advertising and strategy is working then; up scale it, strike whilst the iron is hot and squeeze every penny, nickel and dime that you can get out of it.
If it is not working, then scrap it, redirect the money into one of the many other marketing strategies available.
You should be looking for an absolute minimum return of 100%, but preferably in excess of 200 – 300% +, ROI. |