John Wanamaker (1838-1922) is credited with coining the phrase referenced in the headline. He was a very successful merchant in the United States, a religious leader, and a political figure, considered by some to be a “pioneer in marketing.” He opened one of the first and most successful department stores in the United States, which grew to 16 stores and eventually became part of Macy’s.

Have you ever wondered if your marketing is actually a giant money pit?

Do you ever feel like you’re pouring money into ads, social media campaigns, and fancy brochures, only to be met with silence? No new customers, no increased sales, just the sinking feeling that you’re throwing money away?

It’s a scenario all too familiar. Many business owners treat marketing like a guessing game, throwing darts in the dark and hoping something sticks. But what if you could transform your marketing from a gamble to a guaranteed investment?

Enter the power of Test & Measure.

Imagine marketing without Test & Measure is like trying to sell watches in a crowded market without knowing what people want. On the other hand, successful marketing with Test & Measure is like Richard Branson launching a new airline with a clear plan for success.

Here’s how Test & Measure can turn your marketing into a profit machine

  • From Cost Center to Cash Cow: Marketing shouldn’t be a black hole for your budget. It should be an investment that generates a return – a Return On Investment (ROI). Think of it like planting a seed. You invest a little upfront (the seed), nurture it (the marketing campaign), and reap the rewards (increased sales) later. Test & Measure ensures you plant the right seeds in the right soil.
  • Turning Guesses into Gold: Imagine you spend £1000 on a local newspaper ad. Did it attract new customers? Did it even get noticed? With Test & Measure, you track the results. Did you get 10 sales from that ad, generating £2000 in revenue? Fantastic! But is your profit margin 50%? Then you’re breaking even, not growing. Test & Measure helps you refine your approach, maybe by trying a different headline or publication to get the most bang for your buck. 

    Test & Measure is not a one-time fix, it’s a continuous improvement cycle. You test, measure, tweak, and measure again. This constant iteration ensures your marketing is always at its peak, staying relevant and profitable.

  • Ditch the Dead Weight: Let’s face it, some marketing strategies just don’t work. Test & Measure helps you identify these losers. Did your social media campaign flop? Was that expensive trade show a dud? By tracking results, you can cut your losses and focus your resources on what actually works.

Here’s the bottom line

Stop treating marketing like a guessing game. Embrace Test & Measure, and transform your marketing efforts from a gamble to a guaranteed investment. Remember, review your ROI every quarter, eliminate the two worst-performing strategies, and test two new ones. With continuous testing and refinement, you’ll be well on your way to marketing mastery!