Monthly Archives: November 2008

Testing and Measuring

Business Coaches with ActionCOACH use the term testing and measuring frequently. This practice forms an essential part of our ongoing mentoring programs with clients. What are we talking about anyway? It’s quite simple so read on…

Why it testing important? We don’t realize it but we test everything in our daily lives. You always take a new car for a test drive before you sign the dotted line. When you go shopping at the supermarket, clerks are standing in the aisles with samples for you to test before you buy. Waking up in the morning and checking the weather before selecting your clothing for the day is also a form of testing. We do it all the time we just don’t think about it.

Yet businesses persist in embarking on expensive marketing campaigns with little or no idea of the outcome. These same businesses will spend thousands of dollars on an ad campaign and hope they get a response. Action firmly believes in testing a new ad campaign before the majority of the budget is committed. It may be a whale of an idea but no one knows with certainly the outcome of a daring new campaign. We at Action suggest that our clients commit 10=15% of the new campaign budget and test for the outcomes.

This then leads to the balance of the phrase..testing and measuring. There is little point in going to the trouble of conducting a test in the first place unless one follows through with some type of analysis of the results. Imagine taking that new car out for a test drive and not paying any heed whatsoever to the quality of the ride, the noise levels and the engine performance. Not reasonable is it? You would instantly compare this new car to your old one or other new cars you were considering wouldn’t you? You would have your own form of measurement to compare the car with others. Your taste is a form of measurement when you try those samples in the supermarket. If you lost your ability to taste..why bother trying the sample at all?

There is not point in testing the outcome of any type of marketing campaign with no measurement of outcome. Careful measurement and analysis of the results of a test campaign will provide much needed information on which to base decisions. The results of the measurement will quantify the success of the campaign. The results can be extrapolated to test the soundness of the campaign. An example of this is:
A test mailing to 500 households yields 10 responses. Each response results in an average sale of $150.00 with a margin of 40% that adds $60.00 to the company’s profits which is $600.00 overall ( $60 X 10 responses). Let us assume the overall cost of mailing is $1.00 each or $500.00 in all. The company then made a net profit of $100.00 ( $600.00 profit less costs of $500.00). This campaign would appear to be a winner!

If you would like to learn more about testing and measuring in your business call ActionCOACH Gregory Kopchuk at 780-478-0790

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Goal Setting

Goal Setting
Brought to you by Gregory Kopchuk- CEO of ActionCOACH Canada

Goal setting is as important in personal life as it is in business. The most common denominator in all the self-help literature and books is the importance of goal setting. We’re told to set long-term goals, short-term goals, lifetime goals and personal goals.

The benefits of Specific,Measurable,Achievable,Results orientated,Time-framed (S.M.A.R.T) goals have been written about in self-help books for years. So, it follows that goal setting is obviously a powerful process.

It is about ‘eating the elephant, one bite at a time’ and of turning vision into achievable, actionable things. It’s the common denominator of successful individuals and businesses.

Despite their obvious value, our experience with goals have shown that some are good at setting goals and sticking to them, achieving great results and others can’t keep a New Year’s resolution to stop smoking for two days in a row.

Failure to set goals can be seen as a fear of failure. That is, the blow to our integrity when we don’t reach our goals. When we make and keep commitments, such as setting and achieving goals, it reflects the amount of trust we have in ourselves. We increase our confidence in ourselves to make and keep commitments to others and ourselves. However, when we don’t achieve our goals we lose confidence in our ability to make and keep commitments and to trust ourselves.

There are many reasons why we don’t achieve our goals. Sometimes the goals we set are unrealistic. New Year’s resolutions are typical examples. Suddenly, we expect to change the way we eat, or the way we exercise just because the calender changes. It’s like expecting a child that’s never ridden a bike to suddenly jump on and go, or to run a marathon without months of training. These goals are based on illusion with little regard to natural growth. You must be able to crawl before you walk.

So, how do we set and achieve goals? Stephen R.Covey says it best in his book “7 Habits of Highly Effective People”.“To begin with the end in mind means to start with a clear understanding of your destination. It means to know where you’re going so that you better understand where you are now and so that the steps you take are always in the right direction.”

An example of a S.M.A.R.T. goal might look something like the following.

My goal is to maintain a healthy body.

So that:
I can be fit to do the things I enjoy.
I can be an example to my children in health management.
I can build my personal character strength

Good Nutrition. I will increase my intake of fresh fruits and vegetables and decrease my intake of sugar, fats, salt and red meat.
Physical. I will exercise aerobically 3 times a week for 30-minute periods.
Focus. I will be aware of my body and look out for any health problems.

Focusing on the smaller, short-term goals and achieving success will give you the confidence to set other goals. So, remember, set your goals based on the S.M.A.R.T. principle to have the best chance of achieving your goals.

If you would like learn more about how you can set and achieve the goals within your business call Gregory Kopchuk at 780-478-0790

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