Terrie S. Wheeler: Measuring the return on investment of marketing can be a little bit more challenging for services professionals. The reason is it’s easier to measure the return on investment if you’re marketing products, but you have to be a little bit more creative when you’re measuring the return on investment of professional services marketing strategies.
So we’ve gone through every single pillar of marketing and every service that we offer, and we’re showing people how literally they can measure the return on investment of their marketing activities. What I always tell my clients is if you don’t have a way to measure the return on what you’re going to be doing, you probably shouldn’t be doing it.
One of the litmus tests that we use when somebody says, “Hey, what if we did this tactical thing?” The first thing I ask them is, “How are you going to know if it as successful? What are you going to do to measure the results?” There are different ways that you measure results on intangible, nebulous services that are being delivered then, as I mentioned before, products, but we are strong believers in your business is just that. It’s a business, and just like any other company or firm, you need to have strategies in place to be able to measure the effectiveness and the return on your marketing investment.
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