Tuesday, November 30, 2010

A Tale of Marketing Success

Here's the story, as best we can figure out, of how we came to make a recent sale. What can we learn about marketing from this story?
  • Four years ago, we offered a public presentation. Person A from ABC Company attended, and we kept in touch.
  • Two years ago, at a business networking event, I had an interesting conversation with Person R from PQR Company and we kept in touch.
  • One year ago, we offered a different public presentation, and Person B from ABC Company attended.
  • Person B from ABC Company talked to Person A from ABC Company about our presentation, and Person A was reminded of how much they had enjoyed our approach.
  • Potential Client X had never heard of us but asked Person A if they knew of anybody that did Such-and-Such. Person A referred Potential Client X to us. Trust begins.
  • Potential Client X then spoke to his supplier, Person R, who mentioned his interesting conversation with me a year ago. Trust builds.
  • Potential Client X then checked our website and read our blog. Trust builds.
  • Potential Client X then happened to see an email ad we regularly send out. Trust builds.
  • Potential Client X then phoned us, inviting us to work with him. Trust explored.
  • Potential Client X then became actual Client X, and we went on to do some good work together. Trust confirmed.
So which part of our marketing strategy produced the sale? Did he phone because of the email ad, or because of the website, or because of the blog, or because of the casual reference from his supplier, or because of the direct referral from Person B?

What about the public presentations? The people from ABC Company who were at our presentations didn't buy from us (yet!). But those people referred Potential Client X to us.

What about the networking? The person from PQR Company didn't buy from us (yet!). But he provided a reference to Potential Client X.

When measuring the effectiveness of these marketing activities, what should we attribute this sale to? In your own marketing activities, can you really truly say with certainty which marketing initiative produced the sale?

It's probably more complicated, more inter-related than you think, and your measurements probably don't contain the real answers. Measurements can definitely be useful, but sometimes you need to act based on theory - do the methodical things that you know will bring success, and keep doing them, tweaking them, and refining them, until they do bring success.

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