The Business Bulletin
SME Survey What marketing channel works best for you?
“Half the money I spend on advertising is wasted; the trouble is I don’t know which half”
(11%); with all other options being less
John Wanamaker
you are not using these channels to
than 2.2%. Clearly networking seems to give the most “bang for your buck”! Likewise (see figure 2), the same three channels come top again: social media (37.4%), networking (20.9%) and website (14.3%); with other alternatives once again being 3.3% and less. This would certainly suggest if reach your target audience, it may be something you should consider. And, if you are, but they are not working
You have maybe heard this quote
If you are unsure of where to spend
before? It is now over a 100 years old
your marketing budget, then this
and nowadays there should be no
edition’s survey should be of interest.
excuse for not knowing what return you get from your investment in marketing.
A total of 88 respondents completed the survey. The first
you use, you should be measuring
channel works best for you?” with
the results you get from them. It is far
a follow up question: “What works
easier to do today then in the past;
second best for you?”.
particularly with Google analytics and the various tracking data you can get from email marketing and your social media activity.
activity to establish what isn’t working for you. Of course there may be other channels not falling into any of these
question asked: “What marketing
Whichever marketing channels
for you, then it is worth reviewing your
Figure 1 shows that the top three channels for those that took part in
three areas that are successful for you, the point is if you are not measuring it, you can’t manage it. If you know where your return on investment is coming from, then focus your efforts on those channels that are working for you.
the survey were networking (58.2%), social media (14.3%) and website
Get involved To take part in the next survey – What’s your biggest operational challenge? – visit here: https://forms.gle/ oEy4WA1TMfXS7Xiv7. The results will be shared in the next edition of this magazine. Figure 1
46 | Issue 2 – Sales and Marketing
Figure 2
