It’s a marketing question, for sure. You probably wrestle with figuring that out all the time. Should you use print advertising, direct mail, or beef up your internet presence? Should you go to more networking meetings, do a Groupon, or hire a guy to wear a gorilla suit and stand at the curb dancing?
I can’t answer that question. But you should be able to. Of all the things you HAVE done, and you HAVE tried, what has worked the best? Some things may bring a flurry of activity, such as a Groupon, but in the end not really make a profit or secure any new customers. Conversely some things may not appear to be doing anything, but over the long haul might be the most effective thing you do. How do you know?
The first and most obvious step is to ask your new (or potential) customer, “How did you hear about us?” Write this down. Second, if you use your business accounting software to track your customers, be sure to enter that information in every time you set up a new customer.
Since I’m the QuickBooks guru, I have created a field in my books on every customer file that tracks from where that customer originated. Then I can pull reports that show me both by quantity, and by dollar amount, which method is doing the best. Then I know in what direction to head next!
Can you do that? If not, you clearly need to turn your bookkeeping over to us. Just sayin’…