I’ve never met Sir Ivan, nor do I know if his advertised “hot new single” is any good. But, I do have an opinion about his use of an airplane banner as a marketing tool and it’s NOT positive.
Of course, we will never know if I am right or wrong without a full accounting. What do you think? I can’t imagine this approach will yield any positive return on investment. Regardless of my opinion, I hope he is measuring!
You should be measuring too. While ubiquitous marketing is the right approach, (and I applaud Sir Ivan for his creativity) each channel must produce a positive return on investment. In order to properly measure your results, you should first set a minimum ROI goal for each channel. Next, track the following:
- Time invested
- Lead generated
- Conversion ratio to close
- Opportunity size
- Length of time to close
If you see a positive result, continue with the marketing channel. If you fail to hit your goal, or see a negative result stop and either adjust or abort. Do not blindly continue marketing because you have “always done it this way,” or because you “feel” that something is working. Look at the data weekly, and act accordingly.
Sales strategies are improved by evidence, not anecdotes.
Dedicated to increasing your sales,