Tracking your advertising is crucial for business owners or managers, but too often we just don’t do it. Company resources are scarce and should be cautiously appropriated to those activities that will produce a positive return on the investment. If we make no effort to measure our results how do we know if it is giving us a positive return? The simple answer is “we don’t know.” To begin to manage your advertising profitability you must track and measure you advertising results.
What if you had an employee that showed up for work every day but did very little or no work? Day after day they produced far less than you expect and not nearly enough to pay their wages? How long would you keep this employee on the payroll? Hopefully not very long! Some of our advertising is equally as unproductive - so why do we put up with it? Because we are not tracking or measuring our advertising results.
Types of Advertising
Different types of advertising are suited for different purposes and the effectiveness of some types are more easily tracked and measured than others:
How to Track Your Advertising
Businesses should ask each caller “How did you find our phone number today?” This is specific enough and hopefully the answer will be helpful. You should be prepared to ask additional questions to help identify the advertisement as specifically as possible. If a customer is rushed or annoyed, take what you can get, but don’t be over bearing.
Keep a log or daily tracking sheet. Record the date and time of all calls and the caller’s name and phone numbers. Record the advertising source. Also, record the disposition of the call, if an appointment was scheduled and any information that would be valuable in order to make a follow-up call. There are three purposes for keeping logs:
Track Your Website Traffic
You should track and measure everything! This includes your website traffic. Install Google Analytics or another analytics program to monitor where traffic is coming from. You can tell whether visitors came from an organic search, a referring site, or a pay-per-click ad, how long they stayed and what key word term they searched for.
Call tracking is a service offered by a call tracking company this is a more automated and more accurate way of tracking the source of your calls. A call tracking service will assign you a unique phone number to place in an ad or website that you want to track. When a call is received through that phone number, you know where they found your phone number. You are able to log into your account and see how many calls, how long each call lasted and who the callers were. The calls are also recorded. You can click on each call and listen to the actual phone conversation. This feature helps you to not only hold advertising accountable but also your staff.
Call tracking is a great tool to very accurately track your leads and know the results of those calls. It also gives you the ability to calculate the actual revenue generated. It is all reported systematically for you and recorded. Manual methods are not as accurate or as thorough because customers don’t care and employees are less than perfect or are even lazy.
Formula for Success
The purpose of tracking your advertising is to know the results of each type of advertising and to know the results of each advertisement or marketing campaign. If you have that information available you can follow the formula for success: Repeat what works - don’t repeat what does not work.