In this chapter we are going to get into the weeds with what you have been currently doing with your conventional marketing. As I refer to marketing, I am also referring to public relations, communications, sales, and marketing.
We are going to look at all of your efforts and determine return on investment (ROI), cost-of-customer-acquisition, and determine the overall effectiveness of how and how much you are spending on communicating your message to your customers and prospects.
When I speak about Entrepreneurship and always start with the business case, I say, "Plan your work and work your plan." Then I say, "Yuck!" The purpose of preparing a business plan isn't as much planning your work as much the value of a business plan lies in the process. When you get into the details necessary enough to produce a good business plan and understand the customer, the competition, the expenses, the SWOT (Strengths, Weaknesses, Opportunities, and Threats) to your business, then and only then do you understand your business well enough to start building it.
The same is true for this exercise. You need to go through the process described in this chapter so that you will understand how effective what you have been doing is, understand it enough to know how to integrate social media marketing into it, and finally understand it well enough to know what and how to measure it.
There will be a worksheet available to you in the Chapter 38—Analyze Your Existing Media ...