By Linda Williams, of The Brand Counselors, Featured Guest Contributor How Do You Define Success For Your Pet Business –Part 2 Key Performance Indicators ( KPIs) –Marketing In conversations with pet entrepreneurs, I always ask if their marketing activities are successful. The answer I hear most often is I don’t know. Sound familiar? In Part 1 we explored the concept of general business Key Performance Indicators (KPIs). Now we are going to explore establishing KPIs specifically related to your pet business marketing efforts. If you are not a marketing professional, it can be difficult to determine if your marketing spend is successful, and worth your. The term ROI or return on investment is a way to calculate the worth of the effort. I Need More…. What do you need more of? Customers? New customers or existing customer to buy more?? More new customers buying your newest product? Maybe you’re just launching your business, and you need to get your name out in the community. YOU decide what the goal is but you have to set a goal to measure the success (or failure) of your marketing efforts. How will I let the world know? There are countless ways to promote your business, and we’ll focus on four:
- Social Media: Facebook, Yelp, Instagram, YouTube, Twitter to name a few.
- Events: Sponsorship of the event, or participation as a vendor.
- Paid Advertising: Online (Google Adwords or paid ads on other sites, social media paid ads like Facebook) or offline (print, radio, tv, outdoor).
- Direct Marketing: Online, using online tools to market to leads and customers like newsletters or offline printed mailers or newsletters.