Creating the slot machine that never loses

Lobster Slot Machine - Las Vegas
Creative Commons License photo credit: dlr2008

I‘ve had a survey going on the site here for a while. It asks “What’s your biggest marketing challenge?”

25% of respondents have said “Making time to do the marketing”. That tells me that those folks still aren’t tracking the response they get to their marketing.

Why? If your marketing has been successful, then you know that it’s like a slot machine that doesn’t lose.

What I mean by that is that when your marketing is working, you can put $1.29 in and get $2.34 out (or whatever your number is).

So let me get this right… if your marketing efforts (overall) return $1.05 in PROFIT every time you spend $1.29, why wouldn’t your marketing be one of your highest priority tasks? In fact, why wouldn’t it be number one?

Are there other tasks you perform that have a greater return?

Tracking in circles

I realize this is a bit of a circular argument:

  • You: “I don’t spend much time on my marketing cuz I don’t know what works.”
  • Me: “If you start tracking, you will know. Once you know, you’ll understand what works, what doesn’t and it’ll become clear why your marketing is job #1 and how you can outspend your competition on it and still win.”

…and so on.

The only way to get to the point where you can play the slot machine that never loses is by *tracking the response to your marketing*.

I know, we’ve talked about this before. Tracking transforms your marketing from an expense into an investment with a known return.

PLEASE, please start paying specific attention to the performance of your marketing efforts.

Here’s a starting point to find posts at Business is Personal that will help you get started on tracking response: http://www.rescuemarketing.com/blog/?s=response