// Marketing: Are you measuring your return on investment?
by Kareene Koh
These days it is easy to spend huge amounts of money on marketing your business, especially when you are first starting out. As a fitness professional, there are lots of options available to you, but how do you know if you are really getting bang for your buck? Well, it’s a lot like coaching a successful team, and here are five reasons why:
Play by the rules of the game (set a budget)It sounds crazy, but this is often overlooked. If you are coaching, you don’t just do what you want, when you want to.
There are rules as to how many players can participate at one time, and for what purpose. Marketing is exactly the same. Set your budget upfront and allocate it across different purposes or demographics so you can keep your spend under control at all times.
Monitor your players’ performance (track your results)Good coaches watch their players’ performance closely so they know their strengths and areas for development. When it comes to marketing, make sure you know what happened to your money. This is not the time to rely on instinct, you need facts! How many referrals did you pick up? How many of them converted into actual customers? Were they repeating customers? These are all really important things to understand so that you can adjust your marketing plan over time, rather than leaving things to chance.
Talk to your players (ask how customers found you)
Every coach has a dialogue with their players. In marketing, this can be as simple as asking on your registration form how customers found you, or slipping it into conversation. You may feel a bit uncomfortable at first but most people are happy to volunteer the information!
Keep pushing for maximum performance (be proactive)
Do not let your marketing spend sit on the sidelines. It needs to be an active team player and better yet, it should be doing the hard yards for you. There are enough things to worry about when you are running a business without marketing spend dragging your profits down. Keep a close eye on how your campaigns are performing!
Make the cut when you need to (stop using marketing that isn’t working)If there is a weak player in the mix, get rid of him! Do not keep investing in marketing that is clearly not working for your business. It may sound harsh, but it’s your budget, your business, and you need to look after it by being cut-throat when necessary.
Before you know it, by sticking to these simple rules, your marketing will be performing like a champion, not a wooden spoon!
Kareene is the director of find4me.com.au, where she combines her expertise in business planning and marketing with her passion for fitness and wellbeing. With ten years of experience in large corporations, she now applies this knowledge in the day-to-day management of her own business. To contact Kareene, e-mail email@example.com or call 1300 799 263.
NETWORK • SUMMER 2009 • PP58