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Measure for Success

Boosting the performance of your marketing

Month

January 2019

Supporting businesses in Bournemouth

The south coast’s only networking club for new businesses is partnering with the Bournemouth Chamber of Trade & Commerce (BCTC) to take on the ‘challenging’ times ahead.

The BCTC will become official sponsor of New2Business Networking at the Marsham Court Hotel in Bournemouth, from its next meeting on January 23, 2019.

The Marsham Court founded New2Business in January 2015 to provide support for new business owners and trainees of larger businesses.

In the past four years the free to attend, bi-monthly meetings have hosted around 300, new start-ups.

Jane Swift, Business Development Director at the hotel in Russell-Cotes Road, said: “We are thrilled to gain the support and expertise of the BCTC, particularly as we all proceed towards the uncertainties surrounding Brexit.”

She continued: “During the last four years, New2Business has welcomed hundreds of new companies which have reached a certain level but need further help to grow.

“We enable people to share their experiences, ask questions and ask for advice.

“Starting a new business is a big step and connecting with other businesses is key – but it can also be daunting.

“Our members tell us they appreciate the informality of our meetings and the opportunity to share the wisdom of speakers who have already achieved success with their businesses.

“Working with the BCTC and its diverse membership will only enrich what we offer.”

Richard Milton, Executive Director of the BCTC and MD of marketing consultancy e-nexus Ltd, agreed: “This partnership is a perfect fit for both New2Business and the Chamber.

“I myself have attended New2Business as a business owner for over 18 months and have been immensely impressed by everything about it, from its informal atmosphere to its level of attendance and the way it supports its members.

“The BCTC was born over a hundred years ago, but has the same very relevant aim – to support the local business community by providing networking opportunities, the very latest business information, training and development.”

He continued: “The south coast continues to witness encouraging business growth and as Brexit and its implications for business unfold, there will be an even greater need than ever for the BCTC and New2Business. I am excited about the months ahead.”

New2Business Networking meetings are free to attend and feature a speaker, followed by an informal networking session.

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How much is marketing contributing to the success of your business? Do you know?

Given the availability of data and insight within all organisations, there has never been a better time to measure and regularly monitor the performance and impact of your marketing. Now is the time to identify what works, what could work better and what you should stop to ensure you get the most out of the marketing for your business.

So where to start?

In many cases simply planning ahead and identifying what you want to measure is a great starting point. Then thinking about how you could go about measuring and monitoring the the impact of the activity. Finally, consider what measurement actions and systems you need to put in place to gather the insight and data you need.

Need a place to start?

There are so many readily available systems and processes for you to use when measuring, monitoring and enhancing your marketing impact. Some examples include:

• Adding a web analytics tool e.g. Google Analytics to your website to track and monitor your website performance. Are you reaching the right audience and are they engaging with your site?

• Monitoring the performance of your keywords for your website to ensure your Search Engine performance is optimised. Do you appear high enough in google so that your customers will find you?

• Using an email based system e.g. Mailchimp that allows you to monitor your email open rates, click through rates, unsubscribes etc. Do your subscribers respond to your emails or one type of email campaign compared to another?

• Monitoring your social media demographics and engagement levels. Do your followers match your target audience? Which channel is more effective for brand building vs sales generation? What posts are more effective than other posts e.g. image driven vs video based?

• Conducting Net Promotor Score (NPS) research to understand your customers loyalty to your business. Are they willing to recommend your business to their family and friends?

• Adding UTM tracking codes to your digital advertising, social media activity or email campaigns. How do the different channels drive traffic to your website? Which channel is more effective? How does one advertising media e.g. Google paid ads compared to ads you run for example on Facebook?

• Using a CRM system to record and monitor customer engagement and sales. What approaches generate the most leads and which of these turn into paying customers?

• You can use the same CRM data to explore which customers are the most important to your business? What characteristics do this customers share and how can you find more businesses or individuals who share the same characteristics to help drive forward your business?

Measure4success blog

Measure4success is the blog for e-nexus Ltd.  We are a Bournemouth based Marketing consultancy specialising in Strategic Marketing Planning and Performance Measurement.  Learn more about what we do and how we can support your business by emailing info@e-nexus.co.uk or by visiting our website at www.e-nexus.co.uk

It would be funny if it wasn’t true!

Quote of the day

“Strategy is about setting yourself apart from the competition.  It’s not a matter of being better at what you do – it’s a matter of being different at what you do.” Michael Porter

 

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