What gets measured, gets managed – Peter Drucker
The few businesses I do marketing work for usually come to me for “ideas”. Or they’ll ask questions like, “How much should I spend on FB ads?”
Questions like that usually stem from a lack of measurement and a goal.
Nobody taught us to set goals
And so, we tend to make three goal-setting mistakes.
Let’s say you want more customers.
- We set non-measurable goals. “I want more customers.” This is a classic. If a goal isn’t measurable, it becomes fuzzy. We don’t know what we're aiming for. A good goal is quantifiable.
- We set overly gigantic goals. “I want 300 customers in 60 days”. It sounds ambitious, but we usually get overwhelmed by a goal like that. The solution is to break a big goal into smaller chunks. 300 customers in 60 days, broken down into 5 customers per day. That sounds more attainable.
- We set goals without a timeframe. “I want 10,000 customers”. But by when? When a goal isn’t time-bound, there is no sense of urgency to achieve it.
Set mini-measurable goals
To improve your marketing, you have to start measuring everything.
One of the typical things I tell businesses to do is to start emailing their list. And most actually do.
The problem is, most of them don’t set a measurable goal.
For example, if we’re sending emails:
- We could set a goal of sending one email each week.
- We can then move to achieving at least 25% open rate.
- Then it could be to improve open rates by 1% each week.
- Or it could be to get 20 paying customers per email sent.
Start measuring every single little thing you do in marketing.
Anything can be measured
But here’s the twist. Instead of measuring just results, you should start measuring what you can control.
For example, if you’re posting on Instagram, set a goal and measure how many times you post a week.
If you want 5 customers per day, set a goal of reaching out to 30 prospects a day.
I’m reminded by the legendary Peter Drucker that if you want to improve anything – start measuring them.
5 proven E-Commerce revenue strategies
We turned a past webinar with E-commerce conversion rate optimization (CRO) specialist, Faisal Hourani into 5 videos that you can access today.
You’ll discover strategies that you can implement to increase revenue in your E-commerce business without having to spend more on ads. A must-watch for E-commerce businesses.
