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Measure Market Reach

by Linda Alexander

To measure market reach, avoid things that can't be measured. So-called image ads might be funny or entertaining, but you can't measure their impact on sales. So include things in your campaign such as direct mail response, coupons, or calling for more information. If all else fails, you can capture more statistics by doing customer surveys. However, market research design and implementation is often expensive.

Crunch the Numbers to Measure Market Reach

There is a science to marketing. You will have to do the math, determine the lifetime value of your customer, what his or her average transaction is worth, and work backwards in order to figure out your advertising budget. Return on investment is calculated by dividing your net profit by your total investment, then multiplying by 100. In guerrilla marketing, using numbers is the best way to measure market reach--you can't accurately measure perception.

Test, tweak, and repeat! The best and most accurate way to measure market reach is through trial and error. Once you have measured your results, you will be better able to predict the results of a given ad campaign.

If what you are doing makes a good profit, keep on doing it until it fails. In the meantime, you might want to test it against minor tweaks, such as a changed headline, or a different picture or caption. Divide your list in half and test one version to one half of your customer base and the other version to the other half. To boost your ROI, a successful version must result in more sales, not just more calls or inquiries.

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