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In A Downturn, Measure What You Do Or Keep Your Powder Dry by Robert Schumacher

It is interesting to note that in every down economy, some small businesses lose money and fade from our awareness screen and others seem to prosper and coin money.

Small business owners need to live by different rules during tough times than they do in boom times.

When the economy sours, every small business scrambles for ways to keep revenue rolling in. They seek marketing tools that work . . . that magic pill that will help them survive, maybe even thrive.

What is working? Serve me a double of that! That approach will not work unless you have been tracking and measuring past promotional results.

Here is a fact to ponder--when competitors are retreating and pulling in their horns, the savvy small business operator attacks by shining a spotlight on specific products and services they offer that their competition either does not offer or chooses not to feature--because they are retreating!

The shrewd small business owner KNOWS what works for her and what resonates with her target market. How does she know? She constantly measures results.

Knowing what works means she does not have to shout CHEAP or scream SALE every time an economic bump rears up in the road.

Any small business that does not track and measure marketing results may commit the mortal sin of ready-fire-aim--firing randomly and hitting almost no one. THAT kind of advertising is expensive in any economy . . . not to mention dumb.

In this Age of Instant Gratification, the truth is the Magic Results Pill is cleverly camouflaged as not only hard work but EFFECTIVE hard work.

Never confuse activity with productivity. Activity is associated with panic and panic usually results in throwing money at the problem and succeeding in only making things worse.

Productivity is all about keeping track of every marketing tactic you have used, making notes and measuring results . . . then replicating the ones that work.
Seems simple? Apparently is is not.

How do I know?

96.7% of the small businesses I have come in contact with over the years do not have a scrapbook file filled with ads and scripts pasted on a page along with the date, the weather that day, extenuating circumstances and some kind of guesstimate of results in dollars, units, calls or whatever.

If you do not or will not measure the results of your promotional activities, save your money and do not do them.

If you do measure them, toss out the tactics that have not worked and repeat the ones that have. In addition, constantly be on the lookout for voids left by retreating competitors. If you see a void, fill it if it fits your business model.

Go to war.

Attack when others are retreating. George S. Patton nailed it when he said __If you tell people where to go, but not how to get there, you will be amazed at the results. That works in war and business.

Shoestring Marketing Tip--Purchase a large scrapbook and start pasting a copy of your print ads, broadcast scripts, brochures, promotional faxes, etc. - one to a page. Pencil in your version of RESULTS.

Bob Schumacher giv entrepreneurs a clear coffee-shop English perspective on how to steer their business or profession into the top 20% who achieve 80% of the business and profits. Visit http://www.RedMeatMarketing.com for a complete directory of his articles and a free book on advertising.

Article Source: http://www.earticlesonline.com/Article/In-A-Downturn--Measure-What-You-Do-Or-Keep-Your-Powder-Dry/427968