Tracking Your Marketing Efforts | Fora Financial Blog
Tracking Your Marketing Efforts
January 07, 2014

Tracking Your Marketing Efforts

Every business is looking to increase sales, but sometimes businesses have a hard time doing so when working on a tight marketing budget. When it comes to marketing, a little can go a long way. An important component of marketing is tracking your results, so that you know what is garnering the best results.

Most business owners have been under the assumption that it is nearly impossible to increase their sales without increasing their marketing efforts, because after all the two usually coincide. When managing customers and leads to your fullest capability businesses can find there really is not a reason to have a large marketing budget. A lot of businesses do not realize that their current marketing strategies are working but they are not being properly tracked. There are certainly inexpensive measures that can be taken to help track the success of your marketing strategies.

One extremely important tool is to have different phone numbers. If you use different phone numbers for specific ads, social sites, or any other marketing tool you are putting time and resources into, you can track by phone calls which are performing better. When a customer calls in with an inquiry or asks for something to go on hold that they saw advertised you will know exactly which marketing channel to thank.

A similar way to having separate phone numbers is to use coupons for certain in store events, products, or services. When someone comes in to use the coupon or enters in their code at check out you will know exactly which marketing efforts were behind that specific sale. Ask other neighboring businesses that you have a good relationship with to display your coupons at the registers or at the front of their store.

Another great and totally free way to track how your marketing efforts are working is to ask every new customer how they heard of you! This idea may seem like an old practice but not nearly enough retail or service businesses ask this. If you own an e-commerce business have a field at check out that asks how your customer heard about you and list all your marketing channels for them to select.

With all these easy tactics it certainly is worth it to track your marketing efforts. Instead of just increasing your marketing budget, understand how you can do what you’re currently doing, but better. If certain efforts seem to be performing better than others you should cut spending in other channels and focus time, money, and energy on what is working.

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at [email protected].