When it comes to growing a business, there are three business resolutions that can make all the difference for you and your bottom line…
And you’ll find these practices commonplace inside of just about every dominant, growing company on the planet.
So if you agree that success leaves clues, you need to make sure these resolutions are part of your growth strategy.
In fact, if you’re missing any of these – growing your business will be about as difficult as rowing upstream with a single paddle.
Let’s jump right into it.
Resolution #1 – Test, Test, Test!
Testing is so important to successful marketing – I just can’t help but bring it up at every chance I get.
Knowing the difference between what’s working and what isn’t… well, it’s about the most powerful bit of information you can have.
The tangible results of your tests are your guiding light – they tell you what to pursue and how to go about pursuing it.
Tools like Optimizely and VisualWebsiteOptimizer are great ways to test your online efforts, and Anne Holland’s awesome site whichtestwon.com puts the importance of testing on a silver platter!
Her current “Test of the Week” features two types of Facebook ads. Site visitors can vote on which they think did better, and then read all about which version out performed the other – and why.
They key to successful testing is getting all the variables, and testing them one at a time. This means split-testing direct mail, advertisements, etc., and establishing controls so you you’re looking at ONE specific element with your tests.
Make sure you’re adding tracking features like coupon codes, unique URLs, special call-in numbers, etc.
You need to know where your results are coming from!
Never assume that you know it all… ever.
Setup your controls, determine your variables, and test everything.
Resolution #2 – Track Your Metrics
The three most important metrics to track are:
• Lead Generation Efforts Converting to Captured Leads (To calculate this percentage, take the leads collected, divided by number of visitors to your lead generation offer. This will help you optimize your lead generation.)
• Percentage of Leads Converted to Customers (To calculate this percentage, take the number of customers and divide by the total number of leads. This will tell you how good your conversion funnel is, and will set a benchmark for you to test against.)
• Long Term Customer Value (Know how much a customer is worth to you in the long-term. This will tell you how much you can invest in acquiring a new customer, and allows you to test new ways of increasing your average customer value.)
The value of knowing your metrics top to bottom is summed up nicely in this quote by CEO, author, and business guru H. James Harrington:
“Measurement is the first step that leads to control and eventually to improvement. If you can’t measure something, you can’t understand it. If you can’t understand it, you can’t control it. If you can’t control it, you can’t improve it.”
Resolution #3 – Keep It Fresh
When things stay the same for too long, they start to get boring… and when they get boring, they start to be ignored.
Instead of selling the same old thing time and time again, change things up so people pay attention!
Offer a new product, a new bundle, a new service – whatever you can to keep the interest alive!
Make yourself a schedule (a Predictable Profits calendar if you will…) for implementing new ideas and new offers. Commit to creating at least one new enticement every single month…
This regular influx of freshness will attract new customers – and keep your existing customers coming back!
These tips are more than just resolutions to keep this year…
They are the building blocks of success, the tried and true methods of measurable, intentional, and predictable growth…
And if you aren’t staying on top of this stuff – you’re leaving money on the table for the competition.
For more ways of growing your established business – join the Insiders’ Club today.
In your corner,
Charlie
Digital marketing solutions are all the rage these days, but is direct mail marketing still an effective strategy in an increasingly digital world? Find out in our related piece on direct mail marketing.
