Even the largest companies, with global PR and marketing strategies, can have difficulty knowing whether their marketing strategies are working; whilst it’s perfectly possible to measure conversion rates and track direct response techniques, it’s impossible to quantify the value of tactics like networking. However companies should take sensible measures to ensure their marketing is accountable as far as they can.

Most firms simultaneously use a mix of marketing activities so it’s crucial each is consistently assessed to ensure it generates a positive return on investment (ROI). Assessing the ‘marketing budget’ as one cost centre is a common mistake, as by looking at one ‘total’ and one ‘overall result’, firms can fail to evaluate the costeffectiveness of each specific marketing activity. Essentially, if an activity doesn’t bring in enough new or repeat business to justify the expense, you may do better by changing or eliminating it altogether.

How many companies are stuck in a rut, doing ‘what we’ve always done’ while competitors take the lion’s share of the market? Old habits die hard and in a world where new products and technologies are being launched to the market every week companies can’t afford to ignore the huge changes taking place and must make reviewing their marketing plan a priority.

One of the latest products to hit the property market is the iPhone application that lets home-searchers use GPS technology to locate and download full details of nearby properties available via Rightmove. Whilst this puts the majority of ‘local papers’ at a disadvantage, certain property titles continue to be cost-effective for their clients, by generating sufficient brand awareness and enough new business for a positive ROI, but for how long?

Meanwhile, a company’s sales (or fee income) should be going up but firms must be careful about which aspects of marketing are measured. To get an accurate picture, businesses must measure the number of new leads being generated as well as the number of sales closed. This quickly determines whether it’s the promotional method, sales staff or the product that is succeeding – or letting the side down.

It's always worth asking clients how they heard about your business and market leaders make this a core part of the company’s ongoing marketing plan. Many businesses never ask this telling question and can fail to glean valuable insight into how target audiences select a service provider. However, this information is invaluable in planning how much investment should ploughed into online marketing spend, national and local advertising mediums, brand awareness and point-of-sale activities that promote the company, brand and products.

There is also much that companies can do to improve direct response rates. If you are unsure whether your advertising achieves this aim, a review of your promotional activities is already overdue.

• 1) Include a clear call-to-action in all your advertising output; tell people what they should do. Calls to action might include ‘Call today for your free valuation’, ‘Come into the local office for a chat with our friendly staff’ or ‘Visit us on-line for our free fact sheet’.

• 2) Advertise in the right media selected to suit your audience. Usually this means appearing alongside your competitors in key publications and portals but firms should take care to explore other options too as some mediums, like trade journals, attract a relatively small but significant readership.

• 3) Use strong headlines that ask challenging questions or provide solution-orientated answers to problems.

• 4) ‘Push’ your expert status in the market.

• 5) Ensure you always include multiple methods of contact to give prospective clients control and choice in how they reach you.

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