It's important to measure results from your marketing if possible. In this video, learn how to decide which styles of marketing are worthwhile for your business.
- The next cost area that I just want to … say some things about is marketing. … Don't waste money on marketing that's not effective. … Somebody said to me, "Don't spend it … "unless you can measure the effect of it." … But that is difficult. … There was a famous advertising person way back … who said, "50% of my advertising spend is wasted. … "If only I knew which 50% it was." … And it's really difficult … to measure the effect of advertising. … But, I think it's getting easier with the internet … because nowadays, you can look … at how many clicks you've had, … and how many of those are converted to sales, … how many people have viewed what, … and you could do thinks like split testing where, … if people come to your website, … 50% of the time they see one thing, 50% see the other, … and you can work out which of those … have a better of a conversion rate, … and then you can change over to the good one. … So, I think there are ways … to be scientific about your marketing, … and it can be quite a large spend. …
- Different cost areas affecting your business
- Comparing cost vs. income
- Enhancing your work environment
- Focusing on the most important management tasks
- Getting better deals on raw materials and labor
- Recognizing your optimum quality level
- The hidden costs of subcontracting
- Where to avoid cutting costs
- Top ten cost-cutting actions to take
Skill Level Beginner
What to expect1m 3s
1. What to Reduce
2. Reducing Labor Costs
3. Costs Other Than People
4. Top 10 Tips
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