EVALUATING YOUR MARKETING
Making sure you get value for money from your marketing spend is vital. You need to know what works for your business and what mistakes you have made.
Unfortunately not every marketing initiative will work for you and the success of marketing varies between all business- just talk to your local colleagues and you will be intrigued to find that a advert they have placed in a tourist guide worked well for them but not for you.
Learning what works for you is based on monitoring the responses to all your marketing activity so you can spend your money in a most cost-effective way for you.
Include systems to analyse the business. Some small businesses still use manual systems. Others are fully computerised with some somewhere in the middle. Always look ahead and assess how you can improve your internal systems.
Research your customers - how did they hear about you
Research business patterns such as occupancy or visitor admissions.
Monitor your marketing activity. Code advertising so that you can measure which medium is successful for your business. Count the responses from a direct mail exercise and compare with previous ones especially if you have changed the content of the offer. If you improve the design of the advertising will it result in increased interest?
The WAG/Visit Walesproduce useful information leaflets, Market Research and Marketing Business, which both have relevant information. These leaflets can be downloaded from their site www.wtbonline.gov.uk
Go to Enhancing your business and click onto factsheets.
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