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How to Measure Success |
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Web-marketers spent countless hours developing lists, promoting their products and services, and building relationships with their customers every day. It is essential to measure the success of their efforts. Marketers need to know that the money, time and effort they have put into list building and e-mail marketing have eventually resulted in managing existing relationships, and building new relationships.
Before measuring success just ask yourself a few questions. These are crucial questions which will help you track the success of your relationships. It is essential to think about these questions every week or at the latest every month and this exercise will help you evaluate the success of your actions.
How many referrals did I receive? How many referrals did I give out? How many prospects did I get? How many prospects I lost? How many leads actually become buyers? Did the referrals generate any new business? Did the referrals help build any new alliances or partnerships? Am I consistent with my branding efforts? Do I have a positive image with my prospects? Am I providing enough value to my customers and prospects?
If as a marketer you answer these questions honestly you can get a fair idea about the success of your list building activities. Although crucial, the above list of questions is just a starting point to evaluate your success. One should essentially be aware of the power of developing long term relationships that remain throughout life and this is the most important factor that leads to the success of your overall marketing campaign.
Short term versus long term relations- A key to success:
In several marketing books, authors have enforced the importance of developing long term customer relationships to guarantee enduring success in your business. Few marketers use short term tactics to promote sales but those who are professionals and experts are aware of the importance of building loyal customers and they attribute their success to long term retention of their customers that eventually lead to profits. Hence in order to measure success of list building activities, it is essential to evaluate the cost over value analysis that is internet marketers who want to ensure long term success of their businesses, always consider the basic marketing principle and ensures a balance between the long term value of the customer to their business over the cost of acquiring that customer.
Some marketers use short tactics and focus on hot products and fads that might generate short term business but burn out very quickly. While others focus on building long term success and focus on strategies and principles rather than following fads. Fads burn out quickly while trends have life time value. Just consider mobile industry. Mobile phones are actually fads, the mobile industry is trend. Companies who value long term success know that their customers are actually buying the benefits and not the product itself so they develop a marketing strategy to offer the prospect a solution to their problems rather than a product. Hence, internet marketers would be wise to build their lists and businesses on trends and that ensure the success of effective list building process.
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