Measuring Leads: A Lead Indicator Of Business Growth
Despite its undisputed role as the primary driver of business growth, many small business owners still fail to take a deliberate approach to marketing!
There are many reasons - like discomfort in promoting themselves, not finding the time, or just not knowing how to go about it. But there are no excuses!
One way to at least get started in taking marketing more seriously is to connect with the purpose of it in a more practical way. And that's something measurement can easily do.
When you think about it, the purpose of marketing is to help you find people that are most likely and most suited to become your customers. We call these people "leads" and the more of these you have, the more business growth you can expect. (Assuming you have a great product or service and your customers love you!)
Measuring the number of leads you have is a super idea for a few reasons:
(1) you can confidently know just how much growth potential your business has - or doesn't have
(2) your attention strangely shifts to thoughts about how you might increase the number of leads you have
(3) you can objectively track the impact of any marketing efforts you test - like an advertisement or speaking at a convention or a media release
Now there's a trick to measuring leads. And it lies in how you define what a lead is to your business. It's not just anyone who comes along or could possibly have interest in what your business offers.
The most successful marketing campaigns are those that target a very specific niche, or target market. So make sure you define the characteristics - the age group, industry, location, values, hobbies and so on - of your ideal leads and measure how many of these leads you have and are attracting.
Stacey Barr is the Performance Measure Specialist, helping people to measure their business strategy, goals and objectives so they actually achieve them. Sign up for one of Stacey's free ezines at www.staceybarr.com to receive your complimentary copy of her e-book "202 Tips for Performance Measurement", and get more control over the destiny of your business.
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