Are your Strategies Working?
Make a point to ask every client how they heard about you and write it down on their reservation. At the end of the season, take the time to write down your marketing expenses (you are going to have to do that for tax purposes anyway) and also detail your marketing results.
- How much did you invest?
- What brought you the biggest response?
- How many after-expense dollars did you make off of each promotion?
- How much exposure did you gain?
- Should you put more money into the same strategy?
If you don't take the time to review your results, you may end up sending good money after bad, or even worse, dropping a successful effort!
You can revisit your pricing structure any time but the winter is a great time to take stock and run some numbers and see how your current pricing is working for you. Could you be making more? Are you losing events because you are too high? Should you change the hourly structure?
It's also a good time to check your competition to see if their prices have changed.
Plan for Next Season
Don't fall into your marketing by accident, research your options and carefully budget your money for the media and campaigns that are going to benefit you most. Every year, you have a better idea of what works and every year, new marketing vehicles are introduced. If you want to keep your business small, you may be able to stop advertising after the first year. For anyone who thinks they want to grow their business, never stop marketing.