Do You ‘Trust Your Gut’ on Your Marketing Budget?

In a recent survey by Adobe, they interviewed over a thousand marketers this year about their personal approach to marketing. 

A staggering 49% stated “I trust my gut to guide my decisions on where to invest my marketing budget.”  In this modern world, with all the technology available to them, 1 out of 2 rely on instinct and not data! 

Adobe-US-Marketers-Approach-to-Marketing-Mar2014

I can see this might be the case for companies relying on traditional marketing methods – such as direct mail, TV and radio ads, and ad placements in newspapers and magazines. 

But so much of the marketing world is now in the digital realm. And tracking digital marketing activities is significantly easier. There are many tools available – some free and some considered really expensive – that marketers have available to track the results of every dollar spent.

Google Analytics is a great – and free – platform to help you track website visitors and the number of people who fill out your forms. Nearly all e-mail systems help you track open rates, click-through rates, and some help you see conversions. Marketing automation systems help you track every campaign and the leads generated from those campaigns down to the dollar. Even the reporting features in CRM platforms, like improveit! 360, can let you know which of your marketing efforts worked and which didn’t. 

In your home improvement business, do you trust your gut when it comes to where you spend your marketing dollars? 

Our customers use the system to generate valuable marketing metrics to tell them how they’re doing with their canvassing, trade shows, advertisements, lead providers, and website activities. 

Measuring your marketing numbers through a system like ours means you’ll have the numbers you need for ad campaign management and lead generation activities, e-mail marketing, lead management, and even contact management of your existing database for up-sell and cross-sell opportunities.

The marketing metrics help our business owners determine which activities are most effective, adjust campaigns accordingly, and serve as a basis for determining their marketing budgets.

i360-contractor-reporting-and-dashboards-for-marketing-performance-trackingHere’s just a sample of the information they glean from improveit! 360: 

  • New leads per marketing campaign
  • Cost per lead for each campaign
  • Number of sales opportunities per campaign
  • Opportunities closed per campaign 

There are a number of ways to gather information about your marketing initiatives – doing it by hand, using Excel spreadsheets, relying on a contact database – but having the right technology automates this and saves you so much time.  

Reports can be created, with just a few clicks, to show you how each marketing campaign is doing. Dashboards give you a quick view on how you’re doing that day, that week, or that month – in real time – so you can adjust on the fly. 

And when you know what’s working – you can eliminate those “gut” decisions that might actually be wrong. 

It can be difficult to transition from instinct to fact-based decision-making because, frankly, you’re more than likely very good at it. Or you wouldn’t still be in business. And you are probably good at creating reports using Excel.

But there is so much value to gain from regular in-depth analysis of your business. Once you get a glimpse of all the insights available just under the surface of your sales, marketing, and production numbers, it’ll be easy to adopt the practice of using the best technology. 

Like improveit! 360… Set up a demo to see for yourself. 

Oh, and the interesting thing about this report?  Most marketers agreed that having data was important – 76% said they need to be more data-focused to succeed:

Adobe-US-Marketers-Views-of-Marketings-Role-Mar2014

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