List Building – How to Evaluate Your Success
Internet marketers spend endless hours building a list, carrying out marketing campaigns, and building customer relationships day in day out. It's essential to assess the success of their list building efforts. They need to know how their investment of time and money has paid off in building and sustaining customer relationships.
Before evaluating your success, just answer a few critical questions. It's necessary to think about these once a week or at least once a month, in order to measure the rate of success of your list building and marketing efforts.
? What's the number of referrals I received?
? What's the number of referrals I gave out?
? What's the number of prospects I got?
? What's the number of prospects I lost?
? How many of the leads became actual buyers?
? Did referrals result in any new businesses?
? Did referrals result in any new partnerships?
? Am I consistently good at my branding efforts?
? Is my image positive among my prospects?
? Am I offering sufficient value to my prospects?
If you answer yourself honestly, you'll get a fairly good idea of ??your success in list building activities. These questions are just the starting post to measure your success. Marketers should always be aware that the most critical factor of success is their ability to build long term relationships.
Comparing short term strategies with long term strategies
The significance of long term customer relationships is well documented and well written about. Some markets are happy to employ short term techniques, but the established ones know that only the loyal customer base built and maintained over the years absolutely matters when it comes to earning huge profits.
So if you want to evaluate the success of your list building activities, you have to measure it against the scale of cost versus value. Striking the right balance of cost of acquiring a customer versus his long term value is the principle which successful web marketers follow. This is what you should try to learn when building a list.
Some marketers can not see beyond the short term; they focus on fads. Others take long term trends into consideration when building a list. They know that fads fizzle quickly. For example, short term enthusiasts will focus on mobile phones, while the long term enthusiasts will focus on the mobile industry trend. Experienced marketers know that customers are actually purchasing the benefits and not the product itself. So when building a list and developing their marketing strategy, they will focus on providing solutions to problems rather than particular products.