Quote from @Andres Montbrun:
Hi Paul, I've been following your thread with interest and wanted to throw in a few thoughts that might help scale your marketing efforts. I'm considering the possibility of funding some of the marketing directly, but before taking any steps, I'd like to get a clearer picture on a couple of key points. For instance, what sort of reporting or transparency measures do you have in place regarding your campaign results? Are you tracking detailed KPIs like cost per lead, conversion ratios, and overall ROI from your mailers? Knowing how you monitor and adjust your marketing spend will be critical in making sure any funding complements your existing system seamlessly.
I’m also curious about the average turnaround on your campaigns—how quickly do you see results, and is there an established process for recalibrating your approach based on performance data? I believe having a solid framework for performance measurement could be a game-changer for scaling further, as it ensures that every dollar invested is optimized for maximum return.
If you’re open to a deeper conversation, feel free to DM me. I’d love to chat about the specifics and see how we might work together to boost your marketing without the usual equity sacrifices. Looking forward to connecting!
@Andres Montbrun Thank you for taking the time to respond. I agree with your belief that "having a solid framework for performance measurement could be a game-changer for scaling further, as it ensures that every dollar invested is optimized for maximum return".
Im a firm believer in that math...it only makes sense to do so. With that said, I could do better at following metrics.
I will definitely DM you to speak deeper as you put it. For the benefit of the BP community, I will answer your questions here so that others that read this tread will know my answer.
Q: what sort of reporting or transparency measures do you have in place regarding your campaign results?
A: I rely solely on the weekly reports of my CRM with a focus my focus being on open rate. I make adjustments based on suggestions from the software as well as personal knowledge.
Q: Are you tracking detailed KPIs like cost per lead, conversion ratios, and overall ROI from your mailers?
A: Yes and no. As stated earlier I could definitely pay more attention to KPI's. I pay more attention to ROI from mailers, but I do have a measurement of both.
Q: how quickly do you see results, and is there an established process for recalibrating your approach based on performance data?
A: My campaign open rate has increased, but is still below 30%. Sales rates are increasing every year. This is measurable. I keep great records of cost of goods sold as well as sales. The only established process for recalibrating my approach is the desire to do more and my unwillingness to become complacent.
Speak to you soon and thank you.
