Our Blog: Think Personality
- RSS Feeds
- Atom
- RSS 1.0
- 2.0
- RSD
- (What's RSS?)
« Breakfast with Melissa Havard | Be of Good Cheer, Snoopy »
December 15, 2006
Are You Measuring?
Posted by Brian Zopf | Filed under: Marketing
And now for my next trick, I'll take things even one step further. I'm about to mystify you with a stunning and amazing truth from the world of marketing. Are you ready? "Good business turns a profit, while bad business does not."
Are you disappointed? You shouldn't be. You see business, at its essence, is about working smarter, not harder. This simple, little truth--far too often overlooked--applies equally well to the world of marketing. When it comes to spending and investing, truly successful companies follow one simple rule: Every dollar spent must result in more than a dollar return. It's not exactly rocket science. And yet it's truly painful to consider how many millions of dollars are literally wasted every year--say, on marketing strategies--that do not work.
There are as many ways to measure ROI as there are aspects of a business to be counted. But please, please remember this one simple truth: If the number of dollars going out is greater than the number of dollars coming in, it doesn't take the entrepreneurial genius of Phil Town or Warren Buffet to tell you your business is doomed and your marketing dollars are being flushed.
Are your marketing dollars really going to good investments? Are you sure? The unfriendly truth is: You can't know unless you're measuring.
Trackback Pings
TrackBack URL for this entry:
http://thinkpersonality.com/cgi-bin/mt/mt-tb2006.cgi/209