Things I'm Writing About

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We are all receiving a lot of messages from companies about the COVID-19. Some are helpful. Some are not. If you are thinking about sending one, answer these three questions.

1. Is it helpful? For example, share information about how your clients can reach you and how your business is accessible in these times. 

2. Is it timely and relevant? Things are changing everyday, if not every hour, so it is important to keep information current, and you may need to post an update since your last communication. 

3. Are you providing a resource? If you established a fund or have supplies for employees and or clients, provide clear direction on how to access your assistance. If you cannot answer these questions with substance, then you probably don’t need to add to the email clutter.

Fast Company has a helpful article on this topic. 

 https://www.fastcompany.com/90479646/why-every-brand-youve-ever-bought-something-from-is-sending-you-coronavirus-emails 

"Half the money I spend on advertising is wasted; the trouble is I don't know which half."

         -- John Wanamaker, Businessman, Department Store Owner (became part of Macy's)

Fortunately, in this day of digital marketing, social media, and Google Analytics, marketers can measure results of initiatives easily and effectively.. Gone are the days of guessing where sales and new customers are coming from. Gone are the days of developing marketing budgets based on what you spent last year and increasing it or decreasing it by 20%. 

I have found the following eight questions helpful in evaluating tactics  before investing time and money in advertising, sponsorship, events, and campaigns.

1. Who is your target audience? 

2. How does this reach your target audience?

3. What problem are you trying to solve? 

4. How will you know if this is successful?

5. How will you measure the results?

6. What is the cost vs. payoff? (time and money)

7. How does this support your brand and communicate your why?

8. If you don't do this, what's the impact? 

Once you launch your initiative, here are a few of the Key Peformance Metrics, or KPIs, you can measure to evaluate the effectiveness:

1. Share of Voice (media mentions and tone – did the media report on your initiative, and was it positive?)

2. Website Engagement Analytics – did potential customers visit your website and interact with your company?

3. Social Media Engagement Analytics – did potential customers like, share, or follow you? Was your target audience persuaded to act on your offer?

4. Client Conversions – how many new customers did you gain as a result?

5. Revenue Generated – how much revenue resulted?

6. Marketing Budget ROI - the cost of the initiative/revenue generated

For additional information about important KPIs, this article in B2B Marketing covers the five metrics CEOs care about.  https://www.b2bmarketing.net/en/resources/blog/5-marketing-kpis-really-matter-ceo