Right-On-Target Marketing Done RIGHT!

Imagine if someone invited you to enter a darts tournament. There was BIG prize money available so this piqued your interest, even though you don't consider yourself a darts expert. You would certainly ask these questions:

1. What's the target?
2. What do I get if I hit it?
3. What does it cost to enter?

No brainer questions, right? 

Well I know many businesses that invest LOTS of money NOT knowing the answers to these basic questions which also apply to marketing. If done RIGHT, you will know the answers before you even get started.

1. What's the target? Knowing exactly what your target looks like helps you know what you are aiming at and your chances of hitting it. Also knowing the odds of hitting a bullseye, how many attempts you will need to make before you get a hit, and if there are any wins beside a bullseye.
2. What do I get if I hit it? Here's a definition of a bullseye in marketing: you acquire a new "ideal client". What's an "ideal client"? Well, it depends on your business but would be one that you can provide the maximum amount of service for with the most profit. You will want to know the "average lifetime value" of that client: how much they spend (on average) each year, how long (on average) they remain a client, how many new clients (on average) they refer. All clients might not be a "bullseye" but at least you will know what each "ideal client" will put in your pocket.
3. What does it cost to enter? Once you evaluate the return-on-investment, you know how much you might be willing to spend to enter the marketing game. We don't engage in marketing for the sport, we engage for the WIN. So know the RETURN so you will know how much to INVEST.

So let's look at an example and "do the math".

Let's say a bullseye is worth $1000. It costs $100 to get 10 darts. You are pretty good and can usually hit two bullseyes for every 10 tries. If you enter and do your "average" you would profit $2000+ for a $100 investment. Would you enter?

Here's the politically correct response: "Duh!" 

Truth be told, you could hit one out of 30 and still do well enough to justify the investment. 

Marketing works the SAME WAY. Understand your target, evaluate your odds, and do the math! If you need help for YOUR business, contact us at GetYourNetInGear.com for a FREE Digital Diagnostic (we focus on the Internet but will explore ALL forms for marketing options).