Measuring your marketing is a 'habit' you can develop to replace unproductive questioning such as 'which marketing strategies are working the best?' or 'how are most clients finding out about my services?"
Reviewing the costs of your marketing and advertising expenses help you to make smart decisions in the future. You can target your marketing to bring in more qualified leads and clients. Experiment with different headlines or placements of ads to identify which advertising campaigns maximizes your biggest return on investment.
Here is a simple way to determine how much it costs to generate new business through your marketing.
Marketing Cost to Attract New Clients Formula:
Total Dollars Spent on Marketing (annually)__
New Clients (annually)
Use the above formula in a chart and begin identifying the marketing strategies that directly impact the growth of your biz!
|
Type of Marketing |
Dollars Spent (Per Annum) |
New Clients (annual) |
Cost per Client |
|
Print Paper |
$2,500 |
10 |
$250 |
|
Web Site |
$2,000 |
25 |
$80 |
|
Facebook Ad |
$500 |
1 |
$500 |
|
eNewsletter/eZine |
$360 |
75 |
$4.80 |
|
Direct Mailing |
$350 |
7 |
$50 |
|
Client Referral Program |
$250 |
5 |
$50 |
|
Meetup.com |
$80 |
2 |
$40 |
|
Total |
$6,040.00 |
125 |
$48.32 |
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