Surveys & Determining ROI*

Many folks don’t know they are supposed to track the return on their invested marketing dollars. Those who have an idea they’re supposed to do this, they’re not usually sure where to begin. Many struggle with advertising here or there, and end up never knowing what has worked and what hasn’t or why. Eventually, they begin to develop advertising apathy. They’re frustrated that sales aren’t going the way they want, they’re out of ideas, they’re unsure about how to proceed (or even if they should proceed!) By using surveys and other means of testing for market response to your efforts, you can begin to shed light on your effectiveness.

(*ROI - Return on Investment)

Retail: Why are they here?

If not occurring already, casually survey every client before they checkout as to their occupation, use of time, reason why they're in front of you, what they like (and would improve) about their experience, et cetera. This will give you a better idea who comes to your store and why. Train your staff to do the same. Ask the same questions of everyone.

Tip: You don't have to ask a flurry of questions from every customer that walks through your doors. Ask a single question of every customer one week, another question the next (and so on), and you will begin to shape a picture about the people who shop from you.

Are you conducting exit interviews?

Exit interviews are a must anytime you have an employee submit their resignation. In conducting this survey, you begin to determine where you're falling short of keeping your people. Often, you'll find that money isn't the top issue. What you're looking for is how you are able to improve your internal marketing. How do you craft a culture that keeps and nurtures the best employees? How do you build a fierce loyalty and pride among your employees? Among your customers? Your vendors? Begin asking the tough questions. The sooner you get the answers, the sooner you'll be able to emerge as a company people aspire to work for and with.

Ask prospects who buy from your competitors why they buy from them.

Ask prospects who buy from your competitors why they buy from them. In doing so, you should find some good insight as to how you need to improve your own services.

Mystery shop your competition.

Mystery shop your competition. Better, pay someone to mystery shop you. Look for the good, the bad and the ugly. Act on what you discover.

Variation: While there are professional mystery shopping organizations widely available, there is another way. Seek out a strategic partner within your network and arrange to have them shop you. Tutor them on the facets of the customer experience you would like to know most about. This may even be a reciprocal effort, where you shop them in return.

Tip: You must remain open to criticism if you're going to have yourself shopped. Being closed-minded to the results may render them impotent and leave you in the dark.

Client surveys.

After some time in working with a client, provide them with a survey to get a feeling for how you're doing. This can be delivered back to you electronically or by mail. Keep it short. Five or six carefully crafted questions can offer valuable feedback on ways to improve your business practices. At the end of the survey, reaffirm that all their information is private and confidential. They need to know you won't break their trust.

Variation: Make sure and state they also have the option of giving their name and providing permission to use their words in your marketing efforts. In doing so, you may find yourself with some nice materials for testimonials.