Marketing effectiveness is traditionally measured among other things, by tracking:
- Twitter followers
- Search engine positioning for various search terms
- Hits, clicks, page views on website
- Facebook likes
Unfortunately, these statistics do not generate revenue. I am sure you know this, but somehow keep on pursuing harder in the belief that you are doing something wrong and you need to improve, or hire the right people.
More Facebook likes and twitter followers do not generate more revenue. Higher google and Bing ranking does not equal more revenue. Your site may have gone up and down in positioning – have you seen a correlation to sales going up or down? I doubt it.
Doctors and serious buyers are not looking for you on social media, or even search engines! You may not agree with me. It is more likely that they will find and buy from you through a referral, or may have heard of you from somewhere. Perhaps you have called them, mailed or emailed them. They may have been on your ‘nurture drip’, but may not have purchased from you – yet.
Tracking statistics have no bearing on creating new business. Yet a large portion of your marketing budget and efforts are spent on these initiatives. Of course there will be exceptions and you may be getting ‘leads’ from your SEO efforts here and there.
My point is that you should not plan a marketing business strategy around these exceptions.
Sure you need some in-bound lead generation efforts, but an inordinate amount of time and budget is spent on that and therefore tracking the events we talked about.
What drives revenue is the customer focused mindset. How your customers are improved by what you sell rather than the products and services you sell. The latter is a commodity – people can buy your products and services from anyone. Your ‘value proposition’ is really your reputation and trust. Your relationships you develop with your clients. This is uniquely yours.
Get your customers to talk about the value you bring to them, ask them what they like about working with you, your prospects want to hear that – not about your products and services.
This is the ONLY way to increase sales and revenue.