http://michaelbelba.com/business-consulting/business-consulting-why-you-need-...
As a business consultant, I am certain that as a business person you can tell me where you have advertised the last 30 days. You can probably roll them off your tongue as quick as spit. But that isn't the important question.
As a business consultant, I am amazed at time that business folks have no idea of the following key metrics to running a business. As a business consultant let me ask you...
What was the ROI of the advertising you placed in the last 30 days?
What was your customer acquisition cost from the advertising you placed in the last 30 days?
What was your response rate?
What is the Lifetime Value of your customers?
Without knowing those, all marketing and advertising is the proverbial shotgun approach. Throw a little money everywhere and hope something works. It's kind of like deer hunting in the dark. Go into the woods, spray the forest, and hope you hit a deer.
Do you utilize direct response permission based marketing?
Do you really understand profit margin?
Do you know the only expense you have that brings the dollars in the door?
These are key questions, and in the rapidly changing marketing and advertising world that only a business consultant can advise you on.
For more on business consulting and business consultant services, visit:
http://michaelbelba.com
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